February 16, 2024

The Daily Bankruptcy News

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Due to the Presidents Day holiday, The Daily Bankruptcy News will not publish on Monday, February 19, 2024



Law:

Biglaw Firm's Raises Met With Skepticism From Associates
(DBN)

How could generative AI radically transform the legal industry?
(DBN)

GCs Face Daunting Emerging Risk, Fanned by Global Economic Pessimism and Social Media Algorithms
(DBN)

Biglaw Firms On The 'Leading Edge': The Firms Clients Turn To For Change (2024)
(DBN)

Former Wilson Elser partner didn’t show chronic fatigue entitled him to disability coverage, judge says
(DBN)

Former McElroy Deutsch CFO faces criminal charges for alleged $1.5M embezzlement
(DBN)

Law firm Baker & McKenzie must face US lawsuit over Russian lawyers' conduct
(DBN)

Dechert’s General Counsel to Be Deposed in Lawsuit Alleging Hack
(DBN)

Mississippi Proves Civil Rights Lawyer’s Point With Sham Arrest And Trial
(DBN)

Cleaner sacked for 'eating leftover tuna sandwich’ at law firm
(DBN)

Trump loses big in NY hush-money hearing, as judge rejects all efforts to dodge or delay March 25 trial What to know about Juan Merchan, the judge overseeing Trump's hush money case What we learned at Thursday’s hearing Fact check: Trump makes false and evidence-free claims at Manhattan courthouse “Stop interrupting me”: Judge tells Trump lawyer to “have a seat” in fiery courtroom exchange
(DBN)

Trump Jurors May Be Quizzed on Bumper Stickers, PACs and Books Trump lawyers don't want prospective jurors in 'hush-money' case to be asked if 2020 election was stolen
(DBN)

Trump state prosecutions reach a critical point on the same day in two cities
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Trump faces massive fines from his court cases. Might he struggle to pay them off?
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Fani Willis' longtime friend says the DA began dating Nathan Wade years before she hired him — contradicting his affidavit to the court Trump prosecutor Fani Willis accuses defense of 'lies' about misconduct ‘I’m Not on Trial’: Trump Election Case Takes Dramatic Turn With Fani Willis Testimony Fani Willis’ stunning testimony was jaw-dropping, awkward and strikingly personal. What to know Fani Willis' Hearing is a 'Total Mess,' Legal Analyst Says Fani Willis Tells All in Wild Testimony, Talks Cash Piles in Safe, Father’s Advice, Preferring Grey Goose Over Wine Witness undercuts Fani Willis relationship timeline at Trump case hearing Prosecutor questioned about trips with DA, cash payments Relationship between DA Fani Willis and Nathan Wade started years earlier than claimed, witness says Fani Willis' 'lover' Nathan Wade sweats on the stand: Trump prosecutor is grilled in court about the 'affair' as he reveals she paid him back for their lavish trips together in cash so payments could not be traced
(DBN)

Trump's lawyers have multiple reasons for hope right now
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Trump’s March 25 Trial Date in Manhattan Pushes Election Interference Case to May at Earliest
(DBN)

Trump cites US Supreme Court obstruction case as reason to delay criminal trial
(DBN)

Verdict in Donald Trump’s civil fraud trial expected Friday, capping busy week of court action
(DBN)

Judge Cannon denies Trump's delay demand in classified document case
(DBN)

Man Who Made ‘Video Manifesto’ Charged for Role in Jan. 6 Riot
(DBN)

Special Counsel Smith Comin' In Hot At SCOTUS On Trump Immunity Claim
(DBN)

Informant who claimed Biden was guilty of bribery arrested by FBI for 'false statements' Special Counsel Charges LA Man With Lying About Bidens to FBI FBI informant lied about Biden's Burisma ties, indictment says
(DBN)

Prosecutor in Biden documents probe to testify before US House panel, source says WH clashed with DOJ over special counsel report How Biden's lawyers pressured the Justice Department on Robert Hur report
(DBN)

FBI source charged with lying about Biden bribe claims
(DBN)

Cash shortfall threatens to shut down ICE border detention Federal judge disputes Texas' invasion claim during sweeping immigration law hearing 175,000 Migrants from Border Now in NYC Most Americans say the feds are doing a bad job with the migrant crisis Democrats embrace tougher border enforcement, seeing Trump’s demolition of deal as a ‘gift’ Biden and House Republicans are locked in a standoff over the border Dems’ disapproval of US handling of border hits highest point of Biden’s tenure, report finds I asked criminologists about immigration and crime in the US. Their answers may surprise you U.S. Failed to Safeguard Many Migrant Children, Review Finds History: Birth of A National Immigration Policy Acting deputy chief of Border Patrol suspended over misconduct allegations
(DBN)

"No nexus to terrorism" in mass shooting near Kansas City Super Bowl parade, officials say Travis Kelce blasted for partying at sports bar hours after Kansas City Chiefs parade shooting
(DBN)

A Florida man was imprisoned 37 years for a murder he didn't commit. He's now expected to get $14M
(DBN)

Nearly 5,000 gun deaths so far in 2024 America’s unique, enduring gun problem, explained
(DBN)

The Shooter's Family Was Begging for Intervention Before She Opened Fire at a Megachurch
(DBN)

Bureau of Prisons failed to prevent nearly 200 deaths by suicide, DOJ watchdog finds
(DBN)

Santa Rosa teen arrested, charged with possessing a gun he made using 3D technology
(DBN)

F.B.I. Searches Homes of Fire Dept. Chiefs in Corruption Investigation
(DBN)

Alaska woman gets 99 years for orchestrating catfished murder-for-hire plot in friend’s death
(DBN)

Teen ‘Obsessed’ With Columbine Planned to Shoot Up School, Police Say
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Judges:

Judge ‘pantomimed something similar to a lap dance’ on public defender’s wife at outing, ethics complaint alleges
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Wall Street:

S&P 500 futures tick higher ahead of fresh U.S. inflation data
(DBN)

Stocks up, yields and dollar ease after U.S. retail sales Dow rises 300 points as Wall Street retraces big losses from earlier this week Dow jumps 348 points as US stocks climb amid fresh economic data
(DBN)

Emotion, not fundamentals, is driving stock gains, and a recession could send stocks down more than 30%, market vet says
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Layoffs:

After years in Big Tech, laid off workers are coming to grips with a harsh new reality: jobs that offer lower pay, fewer perks and less purpose
(DBN)

Nike to Cut 2% of Workforce as Sportswear Giant Seeks Savings
(DBN)

Toast will lay off 10% of its workforce, about 550 employees, as growth slows
(DBN)

Cleveland-Cliffs to shutter West Virginia tin plant and lay off 900
(DBN)

Stellantis to layoff up to 120 union members at Belvidere plant
(DBN)

OEUK Warns of 40,000+ Job Losses
(DBN)

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Autos:

Elon Musk's Tesla ownership has soared to 20.5% and is now worth more than $120 billion, new filing shows
(DBN)

Ford CEO tells Wall Street to forget Tesla, says ‘Pro’ business is the future of the auto industry
(DBN)

Chinese Car Companies Eye Factories in Mexico
(DBN)

US Auto Retailers' Falling New Vehicle Margins Compress Quarterly Profits
(DBN)

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Insurance:

Bankruptcy Judge Permits Insurance Payments for Bed Bath & Beyond Executives
(DBN)

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Labor:

Volkswagen on factory unionization efforts: "Neutral doesn't mean silent"
(DBN)

The number of striking U.S. workers more than doubled in 2023
(DBN)

Ford CEO says company will rethink where it builds vehicles after last year’s autoworkers strike Ford's CEO says the UAW strike made him consider offshoring truck jobs
(DBN)

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Economy:

Industrial Production Decreased 0.1% in January
(DBN)

No soft landing: The US economy is going to fall into recession in the middle of 2024, Citi's chief economist says
(DBN)

Weekly Initial Unemployment Claims Decrease to 212,000
(DBN)

Bostic Says May Take ‘Some Time’ to Know Inflation Heading to 2%
(DBN)

The Fed is going to hold out on rate cuts longer than we think, investment strategist says
(DBN)

Recession reality hits major economies
(DBN)

Retail sales data for January shows consumer pullback
(DBN)

The epic stock rally will end badly, the AI bubble will burst, and the economy will sink, warns elite investor Jeremy Grantham
(DBN)

Suddenly, there's real competition for broadband internet
(DBN)

They earn nearly $200,000. Can they afford to have kids in SoCal?
(DBN)

Deutsche Bank’s Tougher Work Rules Mean No Friday-Monday Remote
(DBN)

14 GOP-led states have turned down federal money to feed low-income kids in the summer. Here’s why
(DBN)

The racial pay gap starts as early as 16 for Black workers—here’s why
(DBN)

House Won’t Pass Stopgap to Avoid Shutdown, Key Republican Says
(DBN)

US Debt Clock
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World Debt Clock
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Real Estate:

Investors bought a record 26% of the affordable houses in the US last quarter
(DBN)

Commercial real estate is in big trouble — and the problems may have major financial fallout
(DBN)

Mortgage rates rise for second week
(DBN)

WeWork Seeks Fresh Financing Amid Rent Negotiation Challenges
(DBN)

Fannie "Real Estate Owned" inventory Decreased in Q4 2023
(DBN)

NAHB: Builder Confidence Increased in February
(DBN)

Realtors Are in Crisis—and Home Buyers Could Be the Winners - WSJ
(DBN)

Judge upholds sanctions against accused New Orleans real estate swindler
(DBN)

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Municipalities:

The US cities with the best quality of life in 2024, ranked
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Tech:

The Vision Pro Review: I'm running out of reasons to wear Apple's futuristic headset after a week
(DBN)

Silicon Valley's biggest ever 'dogfooding' experiment has begun. The implications are huge.
(DBN)

Google's new AI-powered wingman highlights the challenges of using a tool that could eventually replace you
(DBN)

OpenAI reportedly has Google in its sights with a new online search product
(DBN)

N.Y. governor wants to criminalize deceptive AI
(DBN)

Donald Trump just got the green light to return to Wall Street
(DBN)

Russia, China, North Korea, and Iran Used GPT for 'Malicious Cyber Activities', OpenAI Says
(DBN)

S&P 500 companies are more obsessed than ever with AI
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Banking:

US eases restrictions on Wells Fargo after years of strict oversight following scandal
(DBN)

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Debt Collection:

Lawyer has filed more than 1,000 class action suits for alleged debt-collection violations
(DBN)

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Education:

Teacher arrested for class assignment about ‘ways to kill’ one of his students
(DBN)

Harvard Hit With Congressional Subpoena Over Antisemitism Probe
(DBN)

Now DeSantis Wants to Moderate His Book Bans Florida officials blast Miami school about permission slips for Black history event
(DBN)

Restrictions prompt teachers to avoid political and social discussions: Report
(DBN)

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Healthcare:

Invitae gets court approval for five-month bankruptcy sale
(DBN)

Almost Bankrupt New York Hospital Paid Four Retired Doctors $8.9 Million
(DBN)

Abortions by Telemedicine and Mailed Pills Are Safe and Effective, Study Finds
(DBN)

Health care workers say patient discrimination is a big problem
(DBN)

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Retailing:

US retail sales declined in January by much more than expected Retail Sales Decreased 0.8% in January
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Appliances:

Appliance component company Robertshaw files for bankruptcy
(DBN)

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Radio:

Radio Giant Audacy Set To Exit Bankruptcy With Soros Fund Management As Largest Shareholder
(DBN)

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Climate:

A Slap Shot Against Climate Denial
(DBN)

Amazon rainforest nearing tipping points, study finds
(DBN)

"Lost winter": Great Lakes ice cover sets record-low for mid-February
(DBN)

‘Entire timetable at risk’: Rich countries' squabbling undermines historic climate deal
(DBN)

Climate Change Is Fueling a New Type of Anxiety, Therapists Say
(DBN)

JP Morgan Pulls Out of Climate Action 100+
(DBN)

Insurance giant Swiss Re posts 580% jump in full-year profit, warns consumers about climate costs
(DBN)

15% of Americans Don't Believe in Climate Change
(DBN)

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Corporate Governance:

Harvard Professor on Musk and His Delaware Battles
(DBN)

Lessons from the Rescission of Elon Musk’s $55.8B Option Grant
(DBN)

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Crypto:

Firm handling FTX’s bankruptcy set to be appointed as Binance’s watchdog Binance settlement monitoring: Sullivan & Cromwell takes the lead
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (52 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

BK NV: Updated Bankruptcy Case Filing Statistics
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Mass Torts:

Boy Scouts Urge Supreme Court Not to Freeze Bankruptcy Plan Boy Scouts org urges Supreme Court not to stop $2.4 bln abuse settlement
(DBN)

Sex abuse claims against clergy cannot be ducked by insurers, victims argue
(DBN)

Bankruptcy trustee: Syracuse diocese’s $100 million plan for abuse survivors is short on money
(DBN)

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Discharge:

Can Contempt For Violating Discharge Injunctions Be Pursed In A Class Action? (Bruce v. Citigroup)
(DBN)

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Cross-Border:

1MDB-linked firms put into Chapter 15 as liquidators seek assets
(DBN)

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UST:

Audit of the United States Trustees Program’s Information Security Management Program Pursuant to the Federal Information Security Modernization Act of 2014, Fiscal Year 2023
(DBN)

Audit of the United States Trustees Program’s Credit Counseling & Debtor Education System Pursuant to the Federal Information Security Modernization Act of 2014, Fiscal Year 2023
(DBN)

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Tax:

The Treatment of Corporate Straddle Year Taxes in Bankruptcy : A Modern History
(DBN)

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Fraud:

Sham Burger King Franchisee Bankruptcy Stuns, but Avoids Harm
(DBN)

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Aviation:

Indian budget carrier SpiceJet's MD Ajay Singh submits bid for Go First
(DBN)

A Boeing 787 on a Transatlantic flight turned around after 8 of its 9 bathrooms stopped working
(DBN)

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Personal Finance:

I saved $200,000 by the time I was 27 — but I was miserable
(DBN)

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Politics:

House bipartisan group eyes $65 billion foreign aid bill
(DBN)

Trump says he purposefully mixes up politicians' names
(DBN)

Haley Warns Republicans That Trump Will Make Them Lose Again
(DBN)

Joe Manchin floats Mitt Romney as a potential running mate as he weighs a presidential bid
(DBN)

How Donald Trump helped Democrats flip George Santos' seat: More than a third said the most important issue was 'stopping' the ex-president while 27% said they were concerned about 'threats to democracy'
(DBN)

Why Is Nikki Haley Struggling in South Carolina? ‘Relationship Management 101’ Haley: Trump's court 'chaos' will sink Republicans in November
(DBN)

Trans adults on edge as legislatures broaden focus beyond children
(DBN)

House Homeland chairman announces retirement a day after leading Mayorkas’ impeachment
(DBN)

Pay your 2 percent, UK’s Shapps tells NATO allies after Trump threat
(DBN)

Inside Trump’s ouster of Ronna McDaniel as RNC chair
(DBN)

‘No prescription needed’: Inside a White House clinic’s ‘systemic problems’
(DBN)

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UK:

Monthly Insolvency Statistics: January 2024
(DBN)

Eutelstat: Satellite operator’s profits crash to earth as OneWeb delays hit revenues
(DBN)

Council asks for cash to stave off bankruptcy Salary increases in the pipeline for Dudley Council's top earners despite bankruptcy fears
(DBN)

Thames Water Chair Quits Parent’s Board Amid Dividend Probe
(DBN)

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EU:

Mortgages to become more expensive, ECB warns
(DBN)

European Credit Risk Falls to Two-Year Low on Rate Cut Bets
(DBN)

ECB Must Be Careful Not to Cut Rates Too Soon, Schnabel Says
(DBN)

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MENA:

Bibi warned Blinken recognizing Palestine would be "prize" for Oct. 7
(DBN)

Biden-Netanyahu Relationship at Boiling Point as Rafah Invasion Looms Biden Warns Netanyahu on Attack Without Civilian Protections Biden, Bibi discuss Gaza hostage talks, Rafah and aid in their 2nd call this week
(DBN)

Satellite photos show Egypt building a wall near Gaza Strip as Israeli offensive on Rafah looms As Israel corners Rafah, Netanyahu defies the world
(DBN)

US says Gaza hostages deal 'possible'
(DBN)

US intercepts weapons shipment bound for Houthis
(DBN)

Sea drones are being used to smash Russia's navy, and now they're being used to threaten a US carrier strike group too
(DBN)

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China:

China Builder Logan Gets Respite as Liquidation Petitions Fail
(DBN)

With the economy shaky, people in China pray to the internet’s ‘wealth god’
(DBN)

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Russia:

US warns Avdiivka could fall
(DBN)

EU Would Need to Double Military Aid to Ukraine if US Fails to Deliver
(DBN)

Ukraine Is Promised 1 Million Drones Within a Year by Allies
(DBN)

Tucker Carlson’s Putin Interview Was a TV Turn-Off for Russians
(DBN)

Putin is once again telling Russians to have more babies, and this time he's saying ethnic survival is at stake
(DBN)

Alexey Navalny, Putin's main political foe, died in prison: Russian officials
(DBN)

Russian Teens Face Up to 5 Years for Making a Snow P----
(DBN)

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Greece:

Greece Legalizes Same-Sex Marriage in First for Orthodox Nation
(DBN)

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India:

Mediation may not reduce delays in insolvency process: Experts
(DBN)

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