February 1, 2024

The Daily Bankruptcy News

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Law:

Less Work, More Money: Big Law Associates Never Had It Better
(DBN)

Big Law Rates Continue Rising, But Trail 2023 Increases So Far
(DBN)

Quinn Emanuel disclosure order highlights relatively new product: judgment preservation insurance
(DBN)

In 2024, There's Nowhere For Biglaw To Go But Up
(DBN)

After bringing criminal charges again Netflix, DA winds up with federal court bad-faith finding
(DBN)

Am Law 100 Firm Names Younger Partner As Chair Elect To Lead Alongside Non-Lawyer CEO
(DBN)

Am Law 200 Firm Hires COO In Order To Adopt A Biglaw Success Model
(DBN)

Head of the Class: Law schools consider post-ChatGPT coursework
(DBN)

Law Students And Medical Students Do Not Mix
(DBN)

Right-wing operative and robocall fraudster attorney will lose law license after plea
(DBN)

Age of e-Discovery: Generative AI could revolutionize e-discovery—but buyer beware
(DBN)

e-Sign on the Dotted Line: When it comes to using generative AI and contracts, the devil is in the details
(DBN)

Always on: Will generative AI alleviate burnout or make lawyers more miserable?
(DBN)

Helping Hand: Generative AI already is making an impact on legal research and writing
(DBN)

Bridging the Gap: Lawyers trying to increase access to justice see promise in generative AI
(DBN)

A judge holds the fate of Trump’s empire: What to know about the coming verdict
(DBN)

Lead prosecutor in Trump’s Georgia case dodges testimony on Willis allegations Fulton County DA Fani Willis and prosecutor subpoenaed to testify, per lawsuit Fani Willis subpoenaed to testify over alleged affair by Trump co-defendant in RICO case
(DBN)

Trump Risks Losing More Than Half of Swing-State Voters If Found Guilty
(DBN)

Jan. 6 rioter who flipped officer over ledge gets more than 6 years in prison Jewish newspaper editor admits storming the Capitol on Jan 6 Jan. 6 rioter willing to ‘die or do 20 years’ arrested for rushing police at the Capitol
(DBN)

Trump’s Legal Travails Drained $51.2 Million From His 2024 Bid Trump Donors Are Just Subsidizing The Lawyers
(DBN)

Illinois voters turn to court after board rejects effort to remove Trump from ballot Will the Supreme Court bend to political will in the Trump ballot case? As judges mull presidential immunity, Trump reaps the benefits of delay Dozens of historians urge Supreme Court to remove Trump from 2024 ballot
(DBN)

Habba drops allegation after brushback from Carroll lawyer After sanctions threat, Trump lawyer in $83.3M defamation case drops conflict claim stemming from BigLaw overlap Trump's Not Firing Alina Habba, Come TF On Alina Habba Appears to Have Been Replaced I Screwed Up Basic Trial Procedure And All I Got Was This Lousy Swimsuit: The Alina Habba Story
(DBN)

Trump Suggests He Won Court Trial He Lost
(DBN)

Trump says he's interviewing new lawyers for Carroll case appeal, attacks judge Obviously Trump Can Delay Paying In E. Jean Carroll Case (Everyone Delays) -- Pray He Does So By Posting A Bond Inside Trump’s Costly Outburst: ‘Like an 8-Year-Old Having a Temper Tantrum’
(DBN)

Chip Roy invokes Dred Scott to slam Supreme Court border ruling The ‘Take Our Border Back’ Convoy Is Already a Complete Mess As border battle brews between Texas and U.S., tiny Eagle Pass braces for its next conflict Cops allegedly beaten by rowdy migrant mob near Times Square — with suspects later freed without bail: horrifying video 5 asylum-seekers arrested for assault on officers Hochul suggests deporting mob of migrants who pounded on cops in caught-on-camera attack near Times Square Texas secessionist claims ‘Texit’ getting ‘closer’ amid border dispute Some supporters of a far-right convoy headed to the Texas border are calling for civil war
(DBN)

Rudy Giuliani Creditors Plan Treasure Hunt Through His Finances
(DBN)

House Oversight panel sets interview with James Biden
(DBN)

Federal judge throws out Disney’s lawsuit against DeSantis Federal judge dismisses Disney's First Amendment case against DeSantis
(DBN)

Judge delivers major blow to free speech lawsuits brought by pro-Palestinian groups against DeSantis
(DBN)

FBI director issues dramatic public warning: Chinese hackers are preparing to ‘wreak havoc’ on the US Top U.S. officials warn Congress of China's hacking powers FBI: China seeks to ‘wreak havoc’ by targeting US water, electricity Wray’s stunning warning points to a new age of US vulnerability
(DBN)

Suspect accused of destroying Satanic display at Iowa Capitol charged with hate crime
(DBN)

Suspect in father’s decapitation ‘went off the rails’ in college, those who knew him say
(DBN)

17-year-old alleged ‘serial swatter’ charged after police say he made threats throughout the country
(DBN)

Crying Israeli diplomat's son, 19, 'intentionally' ran over Florida cop with motorcycle, could avoid charges due to father's immunity: lawyer
(DBN)

Teen gets 6 years in prison for threatening school shooting in Colorado
(DBN)

'Rust' Crew Voiced Concerns About Armorer
(DBN)

Charged with no crime. Locked up for 12 days. He died waiting for help
(DBN)

Bus driver puts 'call 911' on electronic display to get help for passenger being attacked
(DBN)

Mom moves to new state with boyfriend and leaves child behind alone with no heat: Cops
(DBN)

Man who drove car into crowd at homeless shelter so he could return to prison gets wish
(DBN)

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Judges:

Where have you been Hayes?
(DBN)

3rd Circuit judicial nominee opposed for ties to group said to amplify ‘antisemitic speech’ and ‘terrorist propaganda’
(DBN)

Sonia Sotomayor Is As 'Traumatized' By The Supreme Court As You Are
(DBN)

The 5th Circuit Says Criminalizing Journalism Is Not Obviously Unconstitutional
(DBN)

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Wall Street:

Stock futures rise slightly after Fed Day sell-off
(DBN)

Wall Street Gets Reality Check as Powell Saps Fast Rate-Cut Bets
(DBN)

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Layoffs:

Audacy Plans to Cut Jobs in Its Pineapple Podcast Division
(DBN)

Deutsche Bank to cut 3,500 jobs
(DBN)

Regions Bank announces 600 layoffs
(DBN)

Aerospace engineering firm ZIN Technologies to lay off 122
(DBN)

Newbold Services plans 300 layoffs
(DBN)

Cyber vendor Proofpoint laying off 280
(DBN)

Walgreens layoffs 2024: Pharmacy chain to lay off over 100 employees to cut company costs
(DBN)

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Media:

The Messenger to Close After Less Than a Year The Messenger shuts down amid industry-wide layoffs
(DBN)

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Education:

West Virginia construction firm to buy bankrupt college campus
(DBN)

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Healthcare:

Fitch downgrade underscores pressure at a Wisconsin hospital system
(DBN)

Few Americans say they know how much health care will cost: Gallup
(DBN)

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Fraud:

January 2024 Ponzi Scheme Roundup
(DBN)

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Non-Profits:

Ex-NRA CEO didn’t consult GCs office about key legal decisions, general counsel testifies
(DBN)

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Utilities:

Texas Supreme Court questions 2021 winter storm power prices that cost billions
(DBN)

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Furniture:

‘Not fair:’ Rochester man says he hasn’t received refund, furniture set from Ruby-Gordon following bankruptcy
(DBN)

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Economy:

The Fed keeps interest rates on hold — and signals cuts aren’t coming soon FOMC Statement: No Change to Policy Fed keeps interest rates steady, needs “greater confidence” in inflation decline before rate cuts Fed declines to cut rates as inflation, consumer confidence improve Fed Holds Rate Steady and Inches Closer to Cutting in Future Key Takeaways From Fed Decision to Hold Rates at 22-Year High Fed’s Powell Cements Pivot But Pushes Back on Timing of Cuts
(DBN)

Treasury Yields Plunge on Fresh Bank Fears, US Economic Data
(DBN)

ADP: Private Employment Increased 107,000 in January
(DBN)

Jeffrey Gundlach says all the ‘Goldilocks’ talk makes him nervous, thinks recession is still likely
(DBN)

Pay growth slowed in Q4, another sign the labor market is cooling
(DBN)

SAP Employees Protest Return-to-Office Policy
(DBN)

Who can rein in Elon Musk? Someone you’ve probably never heard of Musk Is Getting a Resounding ‘Yes’ for Texas After Pay Rejection
(DBN)

GOP moderates send warning shot to Johnson over tax deal New York GOP moderates get SALT commitment after floor protest Tax deal likely much more expensive than official estimate, experts warn
(DBN)

California introduces first-in-nation slavery reparations package
(DBN)

Companies Embrace Religion as Latest Facet of Diversity Efforts
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Congress scrambles to fix housing as prices soar
(DBN)

Freddie Mac House Price Index Increased in December; Up 6.6% Year-over-year
(DBN)

WeWork Moves To Reject 9 More Leases As Landlords Push For Back Rent
(DBN)

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Municipalities:

Lucha Si, Entrega No: How an “Awkward Power Sharing Arrangement” Enabled Retirees to Upend a Plan of Adjustment
(DBN)

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Oil/Gas:

Russian Oil Enters US Through Bahamas Blending Loophole
(DBN)

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Banking:

New York Community Bancorp Slumps on Surprise Loss, Dividend Cut NY Community Bancorp Flashes a $560 Billion Real Estate Warning for Banks NY Community Bancorp Faces Moody’s Downgrade Over Risks From Real Estate US bank stocks sink after New York Community Bancorp cuts dividend New York Community Bancorp Stock Plunges 38%, Reigniting Fears for Regional Banks
(DBN)

Deutsche Bank smashes profit estimates and boosts shareholder returns
(DBN)

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Tech:

Lawmakers visibly upset as they grilled tech CEOS Zuckerberg breaks from hearing, apologizes to families victimized by social media Accusations, tears and rants: Takeaways from today’s tech CEO hearing Zuckerberg seeks to blame Apple and Google for underage social media use "Blood on your hands": Senators grill tech CEOs on child social media exploitation
(DBN)

Why was a revolting YouTube video of a purported decapitated head left online for hours?
(DBN)

'Microsoft is back.' How AI put five-decade-old giant on top again
(DBN)

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Forest Products:

More Arizona agency conduit debt lands in bankruptcy court
(DBN)

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Crypto:

FTX Expects to Repay Customers in Full, Bankruptcy Lawyer Says
(DBN)

FTX’s ambitious recovery goals amid asset valuation challenges
(DBN)

FTX scraps plan to revive exchange and will repay billions to customers
(DBN)

FTX attorneys say customers who can prove their losses from Sam Bankman-Fried's $8BN fraud 'will likely' get their money back
(DBN)

Coinbase and Its CEO Prep ‘War Chest’ for Pro-Crypto Politicians
(DBN)

Celsius to Distribute $3B Crypto to Creditors as Firm Emerges From Bankruptcy
(DBN)

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Corporate Governance:

Musk Says Tesla to Hold Shareholder Vote to Incorporate in Texas
(DBN)

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Labor:

“They Should Fear Us”: Teamsters & IATSE Link Arms For March Contract Talks With Studios
(DBN)

After budget slashing, more newspaper journalists plan one-day strikes The Messenger shuts down less than a year after launching news site: ‘Titanic of publishing disasters’ The Messenger Didn’t Bother to Tell Staff Before Flaming Out
(DBN)

Teamsters and Trump disagree on immigration at endorsement meeting
(DBN)

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Food/Beverage:

Panos Brands acquires bankrupt salad dressing company Tessemae’s
(DBN)

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Coal:

Gov. Jim Justice Is Beloved in West Virginia. Just Not by His Creditors.
(DBN)

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Awards:

Winners Announced for the 18th Annual Turnaround Awards
(DBN)

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Politics:

Biden Opens Up Lead Over Trump In Head-To-Head, Quinnipiac University National Poll Finds Biden starts ramping up — while building a cash advantage over Trump
(DBN)

The real reason why right-wing media figures are targeting Taylor Swift The politicization of Taylor Swift Who wants Taylor Swift’s endorsement? Who wouldn’t, says former recipient CNN’s Tapper mocks ‘deranged claims’ about Taylor Swift from far right Taylor Swift blowback due to ‘weird, lonely, insecure men’: Fox Sports’s Cowherd Liz Cheney weighs in on the controversy of the day: Taylor Swift
(DBN)

Trump speculates red marks on is hand were AI
(DBN)

Bolton: World Leaders Think Trump is a Fool
(DBN)

Sinema fires back at House GOP on border plan: "A deal's a deal" Sinema rebuts 'misinformation' about bipartisan border deal Speaker Johnson uses first floor speech to hammer Biden on border Johnson says Ukraine aid and border policy reform ‘likely’ to be split Republican Senators Explore Stand-Alone Ukraine Aid in Reversal White House escalates attacks on House Republicans for border deal impasse
(DBN)

The ‘Profound Influence’ of Christian Extremists on Mike Johnson
(DBN)

Congress tries to address surge of swatting incidents
(DBN)

Biden opens up lead on Trump amid growing gender gap: Quinnipiac poll Biden holds six-point national lead over Trump, fueled by female voters: poll
(DBN)

The Real Reason We’re Stuck with Trump v. Biden
(DBN)

House GOP faces pointed conservative criticism on Mayorkas impeachment GOP Sen. Murkowski: ‘Partisan’ Mayorkas impeachment a ‘detour’ from work
(DBN)

RFK Jr.’s possible Libertarian bid rankles Democrats
(DBN)

Haley unveils ‘Grumpy Old Men’ attack on Trump, Biden
(DBN)

Days of Darkness: How one woman escaped the conspiracy theory trap that has ensnared millions
(DBN)

When QAnon fundraises for Kari Lake ... she shows up
(DBN)

House Republican reported for doing pull-ups at the top of Capitol dome
(DBN)

‘Complete pro-Trump scam’: Ex-Nevada GOP chair slams state’s Caucus
(DBN)

Gen Z boys and men more likely than baby boomers to believe feminism harmful, says poll
(DBN)

Arizona Democrat resigns over threat to slap and kill lobbyist
(DBN)

The lies about her voting record have finally caught up with Congresswoman Salazar
(DBN)

Video shows Indiana lawmaker showing holstered gun to students who were advocating for gun control
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (16 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (7 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

The Ongoing in Chapter 11 Filings: Where Are We Headed in 2024?
(DBN)

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Sanctions:

Second Circuit: Bankruptcy Courts Have Inherent Authority to Impose Civil Contempt Sanctions
(DBN)

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Cross-Border:

Chapter 15 Filing as a Litigation Tactic Not Bad Faith Justifying Automatic Stay Relief
(DBN)

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Mass Torts:

Bayer’s billions in Roundup verdicts increase pressure for new legal strategy
(DBN)

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Avoidance Actions:

Delaware Bankruptcy Court Imputes Officer's Fraudulent Intent to Corporation in Avoidance Litigation
(DBN)

New York Bankruptcy Court: Setoff and Unjust Enrichment Cannot Be Asserted as Affirmative Defenses in Bankruptcy Avoidance Litigation
(DBN)

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Safe Harbors:

Second Circuit Adopts "Transfer-by-Transfer" Approach to Bankruptcy Code's Safe Harbor for Securities Contracts Payments
(DBN)

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Tax:

Chapter 11-Related Liability Transactions Require Tax Review
(DBN)

Navigating the Complexities: Chapter 11 Bankruptcy Filings Amid Liability Management Trends
(DBN)

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Aviation:

Go First's lenders to seek extension of insolvency process by 60 days
(DBN)

Woman lowers pants, squats to pee in aisle of Florida flight, feds say. She’s charged
(DBN)

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Retailing:

The retail apocalypse never happened
(DBN)

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Climate:

John Podesta Is Replacing John Kerry as Top US Climate Diplomat
(DBN)

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Student Debt:

Biden Officials Agree to Weigh Student Debt Relief Changes
(DBN)

New Student Loan Forgiveness Option Based On Hardship Gets A Boost
(DBN)

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Autos:

Volvo Car to Stop Funding Polestar, May Distribute Shares
(DBN)

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Water:

Mexico City residents protest 'unprecedented' water shortages
(DBN)

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Sovereigns:

Milei Wins IMF Approval for $4.7 Billion Argentina Disbursement
(DBN)

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UK:

English Court of Appeal sets aside Adler restructuring plan
(DBN)

Council financial crisis 'out of control', MPs warn Councils declaring bankruptcy at an 'alarming' rate as taxpayers at risk Pay rise for Nottingham City Council boss as authority told to 'maximise' cuts Ministers must fix the £4bn hole in council funding or risk more going bankrupt, MPs warn MPs warn councils need billions a year to end ‘out of control’ crisis Why councils are on brink of bankruptcy as £4bn spending gap revealed Brighton council to cut jobs in effort to avoid bankruptcy Government commissioners could be in place at Nottingham City Council 'within days' 1 in 5 UK local councils likely to declare bankruptcy amid mounting debts, service cuts
(DBN)

Insolvencies rise helps Leonard Curtis back into the black
(DBN)

Insolvency-related activity falls in Yorkshire – R3
(DBN)

‘They were dying, and they’d not had their money’: Britain’s multibillion-pound equal pay scandal
(DBN)

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Canada:

Canada braces for possible wave of business bankruptcies
(DBN)

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Russia:

Post-WAR Economic Recovery of Ukraine: What Role Could the EU Preventive Restructuring Directive 2019/1023 Play for the Ukrainian Small and Medium-Sized Enterprises?
(DBN)

Russia and Ukraine complete ‘major’ prisoner exchange after mysterious plane crash
(DBN)

Rumors swirl in Kyiv of Zelenskyy planning to oust his top general Ukraine’s top military commander to be dismissed within days, source says Ukraine Top General Refuses to Step Down
(DBN)

Ukraine Tells Allies Troops Are Outgunned Three-to-One by Russia
(DBN)

Europe Set for Showdown With Hungary’s Orban in Push to Unblock Ukraine Aid
(DBN)

Russian Manufacturing Booms With Economy on War Footing
(DBN)

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MENA:

State Department reviewing options for possible recognition of Palestinian state
(DBN)

Ceasefire vote narrowly passes Chicago City Council, revealing deep divisions among Democrats
(DBN)

Federal judge dismisses case seeking to force U.S. to pressure Israel to stop bombing Gaza
(DBN)

Congressman Brian Mast Says Dead Babies in Gaza ‘Are Not Innocent Palestinian Civilians’
(DBN)

White House blames Islamic Resistance in Iraq for drone attack that killed 3 US troops US readies retaliatory strikes for drone attack by Iran-backed militants US sees signs Iran is nervous about its proxy groups Trump, Biden camps trade blame over who led to the Iranian problem
(DBN)

Hostage Families Demand $1 Billion Over Iran’s Support for Hamas
(DBN)

US Strikes Houthis and Blames Iraq Group for Jordan Drone Attack
(DBN)

US warship had close call with Houthi missile in Red Sea
(DBN)

Saudi Arabia’s economy contracts again, dragged by oil cuts
(DBN)

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China:

Evergrande’s Unsold Tower, Hui’s Mansion Bode Ill for Creditors
(DBN)

US Firms Turning More Optimistic in China Outlook, Survey Shows
(DBN)

U.S. companies say it’s harder to make money in China now than before the pandemic
(DBN)

China Factory Activity Expands Again, Private Survey Shows
(DBN)

China’s economy is about to implode. We will all feel the aftershocks
(DBN)

China Vows to Keep ‘Necessary’ Strength for 2024 Fiscal Spending
(DBN)

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Hong Kong:

Hong Kong ‘Underwater Mortgage’ Levels Surge to Two-Decade High
(DBN)

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Germany:

Germany's former top neo-Nazi hunter now being monitored as extremist
(DBN)

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France:

French Police Start Arresting Farmer Protesters
(DBN)

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India:

Liquidation Preference - Part I
(DBN)

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