August 9, 2024

The Daily Bankruptcy News

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Law:

How is AI affecting courts and law practice? ABA task force report has answers
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Former counsel sues BigLaw firm for alleged disability discrimination
(DBN)

'It Was Shocking': Tom Girardi's Former Clients Testify About Missing Settlement Checks Girardi Defense Tries to Deflect to Firm Associate in Cross-Exam
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Putting Counsel in an Uncomfortable Spot: The Witness Chair
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Cooley Faces Legal Malpractice Lawsuit in Miami Claiming Firm's Attorneys Weren't Licensed in Florida
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Barnes & Thornburg Bucks Trend, Inks 30% Bigger Lease in Chicago
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Milbank Rolls Out Summer Bonuses For Associates, Counsel Milbank Hands Out Summer Bonuses for Associates and Counsel
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BigLaw bonus leader makes announcement that will please associates
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The issues of no-fault divorce, a target of JD Vance and conservatives
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'But I'm A Lawyer' Remains Winless Against 'Police Removing Drunk, Unruly Patron'
(DBN)

Linklaters partner 'banned from booze' after touching lawyer's bum
(DBN)

Bonkers Law Firm Website: We've got a life
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DOJ says Hunter Biden work with Romanian businessmen designed to skirt US law Prosecutors Preview Aggressive Strategy in Hunter Biden’s Tax Case Criminal Oligarch Paid Hunter $$ to Influence U.S. Govt: Prosecutors Special counsel: Romanian paid Hunter Biden handsomely, hoped Obama admin could end probe
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The Trial Judge Who Has to Clean Up the Supreme Court’s Mess
(DBN)

Smith seeks to delay deadlines in Trump Jan. 6 case
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Accused Jan. 6 rioter back in custody after threatening Justice Amy Coney Barrett
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Jan. 6 defendant detained for allegedly threatening Garland, Trump prosecutor
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Judge orders MyPillow mogul Mike Lindell to pay attorney fees to winner of 'Prove Mike Wrong' contest
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Harris shuts down ‘lock him up’ chants aimed at Trump
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Judge to rule whether Alabama can prosecute people who aid out-of-state abortions
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Prompted by mass shooting, 72-hour wait period and other new gun laws go into effect in Maine
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As burglars torment L.A. neighborhood, anxious residents consider buying guns, hiring security
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Man prepped basement with tarp, saws before killing, chopping up woman on first date: Cops
(DBN)

Woman avoids prison time for killing MS-13 victim's mother who was honored by Trump
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Paramedic who poisoned wife also tainted daughter's drink to frame in-laws: Prosecutors
(DBN)

Man wanted for shooting deputy skips bond and kills newly-retired police chief
(DBN)

Taylor Swift ISIS suspects ‘hired as guards’ wanted ‘to bomb gig & mow down fans’ before terror plot foiled by US spies ISIS Attackers Planned to Kill 20,000 at Taylor Swift Concert
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Judges:

Court Seals Hearing Over Ex-Bankruptcy Judge Romance, Fee Fight
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‘You’re lucky that I’m even letting you say anything here’: Bizarre hearing after Texas solicitor general raises red flag over judge remarks in border barrier case
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Michigan Judge Goes Viral Again After Defendant’s Meltdown
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High Court judge reprimanded for love letter
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Wall Street:

S&P 500 futures inch higher after the index registers its best day since 2022
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Dow jumps by 700 points after latest jobless data brings better news for America’s labor market
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There are 2 conflicting forces that will define how stocks perform the rest of the year
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BofA’s Hartnett Says Market Selloff Yet to Breach Key Levels
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Layoffs:

Paramount Global announces it will cut 15% (150) of U.S. workforce
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Eventbrite to cut about 100 jobs, reducing workforce by 11%
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LegalZoom.com to Cut Workforce by 15% in Restructuring
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Utilities:

Tornado Havoc Has Ohio Residents Facing Week-Long Power Cuts
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Healthcare:

Boston, Ayer leaders want to declare looming hospital closures a public health emergency Warren, Markey push private equity firm Apollo to ‘act quickly’ in sales of Steward hospitals Gov. Maura Healey floats federal investigation into Steward CEO Ralph de la Torre Bankrupt Steward Health Finds Buyers For Two Hospitals Amid Senate Probe Steward hospitals’ fate ‘In the hands of the lenders’: Mass. Gov. Healey says MPT Loses Another $321M As It Hands Back 8 Hospitals To Lenders Steward landlord Medical Properties Trust sees $321M net loss in Q2 Can state still save Nashoba Valley Med Center in Ayer from Aug. 31 closing?
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Federal court tosses Chamber of Commerce’s Medicare negotiation challenge
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Texas Gov. Abbott orders hospitals to collect and send state data on patients’ immigration status
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Utilities:

Why White Supremacists Are Trying to Attack Energy Grids
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Tax:

IRS to start ‘intensifying audits’ on bogus employee retention claims
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Celebs:

Katie Price arrested after missing bankruptcy court appearance Star is arrested at Heathrow Airport in facelift bandages Katie Price released on bail hours after dramatic Heathrow arrest in front of Harvey
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Ecommerce:

Pitney Bowes to Liquidate Ecommerce Unit in Bankruptcy
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Climate:

Becerra says extreme heat emerging as a ‘public health crisis’
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July was California's hottest month in recorded history
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Slow-moving Debby threatens catastrophic flooding in Carolinas Tropical Storm Debby spawns deadly tornado and life-threatening flooding in North Carolina after 2nd US landfall
(DBN)

Hurricane damage will increase in surprising new places in the coming decades. See where it’s trending higher
(DBN)

What to Know About the Park Fire, the 4th Largest in California History
(DBN)

NOAA Forecasts Highly Active Hurricane Season Will Continue
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Huge California wildfire chews through timber in very hot and dry weather
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Transit:

7 Years After ‘Summer of Hell,’ the Subway Is Approaching Another Crisis
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Buses:

NJ Transit to take over 20 bus routes after Coach USA declares bankruptcy
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Solar:

iSun Creditor Pursues Assets of Bankrupt Solar Firm's CEO
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Economy:

Can Fed Officials Still Nail the Landing? As Rate Cuts Near, It’s a Moment of Truth.
(DBN)

Fed seen rejecting calls for jumbo rate cut in economist survey
(DBN)

Fed’s Schmid Says ‘We Are Not Quite There’ in Cooling Inflation
(DBN)

How to Avoid Another Recession
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The Sahm Rule, Explained (By Claudia Sahm)
(DBN)

Investor Behind Record $2.7 Billion Bond Bet Says Recession Near
(DBN)

JPMorgan raises 2024 recession odds to 35%
(DBN)

Trump says he should get a say on Federal Reserve interest rate decisions
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Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market
(DBN)

Jeremy Siegel backs off on calls for the Fed to do an emergency rate cut
(DBN)

"Pendulum has swung back" on ESG, mining CEO says
(DBN)

Financial constraints often trap domestic violence victims. Los Angeles thinks a basic income is a solution.
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The Best and Worst States for Retirement
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US Debt Clock
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World Debt Clock
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Real Estate:

Mortgage rates hit lowest level in over a year: report
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The housing market just reached an incredible milestone
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Realtor.com Reports Active Inventory Up 35.9% YoY
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Leading Index for Commercial Real Estate Increased 8% in July
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'There's a reckoning happening': An underrated risk will crater property values in high-risk markets by up to 60%
(DBN)

Atlanta Fed: Home Ownership Affordability Monitor
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What's happened to real estate commissions since the big settlement
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Florida Condo Market 'Catastrophic' As Owners Rush To Sell Homes
(DBN)

Burned Out of Lahaina, Thousands Try to Rebuild Lives Elsewhere
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Magician David Copperfield sued for allegedly trashing his luxury New York City condo
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Oil/Gas:

Texas Energy So Bountiful, They Pay You to Take It Away
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US oil output notches fresh record in August
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Black water is flowing from another West Texas well. More is likely to come
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Retailing:

UK retailer Mountain Warehouse offers $5M stalking horse bid for Eastern Mountain Sports
(DBN)

The Container Store sales fall 12% in Q1
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Food/Beverage:

Restaurant that was one of the fastest growing in America just ten years ago files for bankruptcy
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Private Equity:

Private Equity Builds $722 Billion War Chest in Hunt for Deals
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Politics:

The 7 States That Will Decide the Election
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Kamala Harris Takes Eight-Point Lead Over Donald Trump in New Poll New Marquette Law School Poll national survey finds Harris leading Trump and outperforming Biden against Trump; enthusiasm to vote among Democrats having risen substantially Harris leads Trump in Arizona, Gallego holds 11-point lead over Lake: Survey Harris leads Trump by 5 points in Ipsos poll Harris takes the lead over Trump in Miami-Dade after Biden’s exit, poll finds CNN Poll of Polls average continues to show a close race for the presidency Vibes and Polls and Positioning of the Harris Candidacy Trump dismisses Harris surge, says honeymoon will end Harris, Trump neck and neck in swing states: Poll
(DBN)

Harris Neutralizing A Key Trump Advantage: Crowd Size Harris campaign weaponizes crowd size against Trump Swing voters compare Harris to Obama in Wisconsin focus group Trump Claims He Has ‘30 Times the Crowd Size’ of Harris How Harris's 'Not going back' message seeks to counter Trump's 'Make America great again' slogan The Harris-Walz campaign's camo hat is shaping up to be another Gen Z marketing home run ‘I Am Speaking Now’: At a Rally in Detroit, Harris Stares Down Her Detractors Kamala Harris' Attempts To Stifle Pro-Palestinian Dissent Aren't Working In Detroit, Harris Confronts Divisions Roiling Democrats Over Gaza War JD Vance Awkwardly Retreats After Bizarre Attempt to Storm Harris’ Empty Plane Jan. 6 officers hit the road for Harris, hoping to make Trump lose another election “Trump is weird” will only get Kamala Harris so far Kamala Picks a Midwestern Smoothie - WSJ Harris, Walz spotlight support for unions in campaign stop with UAW 'Our lives are on the line': Why many LGBTQ+ people hope for Harris win Democrats warn Harris must find right message on economy
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Cook Political Report shifts Arizona, Georgia, Nevada toward Harris
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Trump complains about campaign as advisers try to focus on attacking Harris Donald Trump, Prince of Self-Pity Trump Doubles Down on ‘Became a Black Person’ Attack on Kamala Harris: ‘You’ll Have to Ask Her… It’s Very Disrespectful’ Trump faces questions about getting out-worked by Harris Trump to hold presser as he rips Harris for not taking media questions Trump holds seemingly pointless press conference filled with false claims A look at claims made by Trump at his news conference ‘He’s Panicking’: Ex-Trump Senior Aide Says Trump’s Press Conference Shows ‘He Thinks His Team is Failing’ Ex-White House aide says ‘self-announced’ presser shows Trump is ‘panicking’ Trump says abortions not ‘big factor’ in elections anymore Trump won't say how he'll vote on Florida abortion amendment 5 takeaways from Trump’s Mar-a-Lago news conference How Vance and Trump think they can slow Harris' strong start From Tips to TikTok, Trump Discards Policies With Aim to Please Voters Trump Says He’ll Focus on Issues. His Allies Are Not Holding Their Breath Trump criticizes Harris, Biden and Walz Trump isn’t campaigning as hard as he used to
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Donald Trump Needs RFK Jr. To Drop Out. Here's Why
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Trump shooting: Local police unleashed on Secret Service in new videos
(DBN)

Mark Kelly slams Vance for attacking Walz's military record Man who served under Walz says governor retired before unit had deployment news Banks demands Pentagon answers on Tim Walz's military record Kamala Harris’ Team Quietly Updates Tim Walz’s Military Bio Amid Scrutiny Tim Walz’s Claim He Carried Weapons in War ‘Absolutely False’: CNN The Tim Walz Guide to Winning Prairie Progressives Tim Walz’s political evolution took him from moderate Democrat to progressive champion Trump and MAGA world are going after Walz for his handling of 2020 riots. Old audio shows Trump praising it The Political Appeal of the Aggressively Normal Dad 'They're lying': Man who served with Walz responds to claims about his military record Tim Walz Was My Teacher 20 Years Ago. Here’s What I Learned What Mr. Walz’s former students have to say about the Democratic VP nominee The Walz record: Abortion rights, free lunches for schoolkids, and disputes over a riot response
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Trump and Harris agree to debate on ABC on September 10, network says Trump Pitches Debates With Harris in Bid to Reshape Race Trump and Harris agree to Sept. 10 debate on ABC, two more dates in the works
(DBN)

JD Vance reveals how he lost 30lb - and Trump is impressed with how his suits fit now Vance finds his footing as Trump's attack dog 5 key excerpts from JD Vance’s forward to Project 2025 leader’s book Vance Amplifies False Claim on Harris Racial ID
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White House denounces Cori Bush’s ‘inflammatory’ words to AIPAC after primary loss
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Elon Musk Deletes X Post After Falling for Fake News Story Created by Far-Right How Elon Musk uses X to meddle in world politics Elon Musk’s misleading election claims have accrued 1.2 billion views on X, new analysis says
(DBN)

Texas Breakaway Group Warns US Changes or 'Blows Up'
(DBN)

'The plan is working': Mike Lindell says he's 'caught many, many, many' illegal voters
(DBN)

Trump-backed Georgia election board members enact rule that could upend vote certification
(DBN)

Kanye West says Jews conspired to put him in hospital
(DBN)

Evangelical Leaders Call Out Danger as 'Prophets' Tie God to Donald Trump
(DBN)

Democrats troll Fox News’s Ingraham after Minnesota gaffe
(DBN)

Iranian hackers target U.S. presidential campaign official, Microsoft says
(DBN)

Demoralized Americans give democracy low odds of surviving election in poll
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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (20 new filings today)
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Recent Ch. Adversary Proceeding Filings (3 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Mass Torts:

Syracuse Catholic diocese bankruptcy case further delayed as lawyers rework key documents
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The US government has offered to pay 114 of more than 385,000 Camp Lejeune contamination claims
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Bankruptcy Reform:

Ghosts of Bankruptcy’s Past Haunt Bills to Address J&J, Purdue
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Constitution:

Renewed Focus On Constitution’s Uniformity Requirement For Bankruptcy Laws (Siegel & Hammons)
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Venue:

Kirkland Masters Forum Shopping in Bankruptcy Cases
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Aviation:

Tighter Aircraft Market Demands Creative Restructuring Solutions
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Boeing’s new CEO is already making an overdue change his first day on the job
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Boeing Starliner astronauts may not return until 2025 — and they may fly SpaceX A new report finds Boeing’s rockets are built with an unqualified work force
(DBN)

Woman dies after getting trapped in conveyor belt ‘at baggage claim’ in Chicago’s O’Hare International Airport
(DBN)

Delta says chaos after CrowdStrike outage cost it $380 million in revenue Delta to seek "at least $500 million" from CrowdStrike and Microsoft
(DBN)

American Airlines passengers were stuck at airport gate for 14 hours after flight to Miami was diverted to the Bahamas
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Rex Airlines owes money to 4,800 creditors, administrators tell first creditors' meeting Rex financial woes in spotlight at creditors meeting
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Tech:

Google monopoly ruling shows 19th-century law can police Big Tech Google Monopoly Judge’s Cautious Findings Hint at Legal Remedies
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Advertisers aren’t buying what X is selling. Is that a crime?
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3 in 4 workers say AI reduced productivity and increased workloads, survey finds
(DBN)

ByteDance Is Said to Seek Refinancing of $5 Billion Loan
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Autos:

Rivian and Lucid are still burning a lot of cash, but thankfully, they have rich backers
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The Number Tesla Doesn't Want You to See
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Television:

Paramount Takes $6 Billion TV Network Charge, Joins Warner Bros.
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Education:

How US public schools became a new religious battleground
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65% of Texas Teachers Ready to Quit
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Sovereigns:

Bangladesh Faces Financial Reckoning After People Power Protests
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Bondholders Balk at Ethiopia’s Surprise Call for Losses
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UK:

Why the far-right is rioting in Britain Night of Far-Right Violence Averted in UK as Counterprotesters Take Streets - WSJ See huge crowds gather across the UK to block far-right rallies The night Britain fought back against riots More rioters jailed as Starmer warns there will be 'no letup' in tackling far right
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Barclays Joins Rivals in Scrapping Cap on Top Banker Bonuses
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Canada:

Court approves Postmedia bid for insolvent Atlantic newspaper chain
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BC Supreme Court denies creditor's application to join family law case
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MENA:

Hezbollah poised to strike Israel independent of Iran, sources say
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State Dept calls for Israel to investigate allegations of ‘horrific’ sexual abuse of Palestinian detainees EU, US denounce alleged sexual abuse and torture of Palestinian prisoners by Israeli troops
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US, Qatar and Egypt call on Israel and Hamas to resume talks in Cairo in mid August US and other frustrated mediators demand that Israel, Hamas resume Gaza talks
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Netanyahu is presiding over a sharp decline in the US’s pro-Israel consensus
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With attention on Gaza, Jewish settlers expand in the West Bank
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Russia:

Russia says it halted a Ukrainian incursion into its territory. Evidence suggests it hasn’t It looks like Russia was massively unprepared for Ukraine's attack on its territory Ukraine’s Push Into Russia Is a Surprising Turn in the War Why Ukraine’s generals may have rolled the dice on an incursion into Russia Pentagon says Ukraine’s attack into Russia is not escalatory
(DBN)

Ukraine's using its cheap drones to blind the eyes in the sky guiding Russia's behind-the-lines strikes
(DBN)

Russian chess player allegedly tried to poison opponent by smearing pieces with mercury
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Russia's economy faces a demographic disaster and risks seeing its population reduced by half by the end of this century, think tank says Putin's 'War of Choice' in Ukraine Could Mean Russia's 'Outright Ruin'
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Argentina:

As President Milei’s austerity hits hard, jobless Argentines appeal to the patron saint of work
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Italy:

Italy doubles flat tax rate for foreign super-rich
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Italy to jail babies and pregnant women, to campaigners’ dismay
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China:

Chinese EV Maker HiPhi Enters Bankruptcy Process in Death Knell
(DBN)

Chinese Builder Kaisa Faces Key Court Test to Avoid Liquidation
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Chile:

Bankrupt WOM’s Bond Bounce Thrusts Billionaire Carlos Slim Into Spotlight
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Germany:

Esprit closing all 56 shops in Germany, cutting 1,300 jobs
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India:

The Byju's Insolvency: Reducing IBC To A Farcical Game Of Chicken US court nixed lenders’ plea opposing settlement with BCCI, claims Byju’s Byju's US lenders appeal insolvency-quashing order before India's Supreme Court
(DBN)


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