February 2, 2024

The Daily Bankruptcy News

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Law:

Kramer Levin's New Bankruptcy & Restructuring Co-Chair Shares Her Thoughts On How Women Lawyers Can Excel In Practice
(DBN)

BigLaw associates ‘have never had it better;’ they are working fewer hours, survey says, and making more money Biglaw Associates Are Apparently Living Easy With Less Work And Higher Salaries
(DBN)

Otterbourg Steals Former Brown Rudnick Partner Sunni Beville
(DBN)

McGlinchey Welcomes Seasoned Bankruptcy Attorney Tom Henderson
(DBN)

Goodwin, Citing Performance Reviews, Parts With Number of Associates
(DBN)

Bankruptcy Court Provides an Object Ethical Lesson to Practitioners: Return Your Client’s Calls
(DBN)

Cravath Enters Modern Era of Big Law Amid Regular Rate of Partner Exits
(DBN)

Rankings, Shmankings: Has USNWR Law School List Ever Been Relevant?
(DBN)

Elon Musk’s unlikely foe in $56bn pay defeat: US thrash metal drummer
(DBN)

Why Progress on Law Firm Diversity Is 'Minimal at Best'
(DBN)

Proskauer Reaches Settlement with Ex-COO in Trade Secrets Row
(DBN)

UK: Rancour over NQ salaries dominates as staff rate their firms for pay
(DBN)

White & Case hikes London salaries for junior lawyers
(DBN)

Firm accused of selling out LGBT values with Riyadh office
(DBN)

The Reputation Of Lawyers Is In Decline
(DBN)

Goodwin Procter Executive Who Led Growth Strategy Leaves
(DBN)

DLA Piper Malpractice Case Could Break Ground in Second Circuit
(DBN)

Revised bar exam won’t use software that caused tech problems for some test-takers
(DBN)

Lawyers Still Haven't Learned ChatGPT Just Isn't For Them
(DBN)

In-House Lawyers Say AI Well-Suited for Some Tasks, Dangerous for Others
(DBN)

More Ethics Guidance Arrives Amid Rapid Releases Of Legal AI
(DBN)

'Late Adopters' or 'Cautious Optimism': Law Firm Partners Share Divergent Approaches to Gen AI
(DBN)

Freshfields ex-Head of Tax jailed
(DBN)

Supreme Court arguments to bar Trump from the ballot hinge on Scalia legal opinion Trump's immunity appeal is slowed because judges are making his loss 'bulletproof': expert
(DBN)

Poll points to deep trouble for Trump if he gets convicted The chances that Trump will be a convicted felon by Election Day have dropped
(DBN)

Donald Trump's Steele dossier lawsuit dismissed by London court Trump spent $250K of campaign funds losing Christopher Steele lawsuit: report Trump LOLsuit Against Pee Dossier Authors Gets Flushed In English Court
(DBN)

Trump New York business fraud case verdict delayed to later in February
(DBN)

FBI Agents Reportedly Missed ‘Hidden Room’ While Searching Mar-a-Lago for Government Documents
(DBN)

Right-Wing Conspiracy Theorist To Lose His Law License
(DBN)

U.S. to wrap security blanket around D.C. courthouse for Trump trial
(DBN)

Embattled Georgia prosecutor Fani Willis will not recuse herself from Trump case amid affair allegations, sources say Prosecutor in Trump racketeering case subpoenaed to testify in disqualification hearing
(DBN)

‘She’s a loser’: Ex-Trump White House lawyer on Trump’s attorney Alina Habba
(DBN)

E. Jean Carroll’s Lawyer Says This Donald Trump Move Led To His $83.3 Million Downfall
(DBN)

Trump: Any Lawyer Who Represents Me Is Either a Patriot or ‘CRAZY’
(DBN)

Creditors not taking Rudy Giuliani's claims in federal bankruptcy filings at face value
(DBN)

Feds arrest alleged Jan. 6 rioter after finding her hotel key card at the Capitol
(DBN)

Border deal on life support as negotiators battle "misinformation" Senate’s border bill faces unexpected problem: Democrats DeSantis is sending Florida’s State Guard into Texas amid border fight with Biden Trucker Rally Turns Into January Sixer Worship Wagon Nikki Haley Doesn't Want To Talk About Her Texas Secession Comments No, Texas Can’t Secede, and the Border Fight Is About Politics More Than Policy The American City With a Message for Migrants: We Want You - WSJ Watergate Prosecutor: Abbott Makes Me Fear for Democracy GOP Lawmaker Calls for Killing Migrants ‘It’s political propaganda’: Eagle Pass residents frustrated by border standoff The Biden-Abbott Border War Is a Mess, but It Is Not a Constitutional Crisis
(DBN)

State agrees to pay $13 million over traumatic active shooter drill
(DBN)

Jury hears that Michigan school shooter blamed parents for not getting him help
(DBN)

Suicide prevention brochure isn't violation of gun merchants' First Amendment: Ruling
(DBN)

Killing shows Trump losing control of fans triggered by violent rhetoric: analysis
(DBN)

Prosecutors say they dropped murder case in exchange for suspect leading them to body
(DBN)

Teen who fatally stabbed friend in fight over McDonald's sauce gets 5 years after plea
(DBN)

Former CIA employee sentenced to 40 years in prison after carrying out largest data leak in agency’s history
(DBN)

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Judges:

'Unjustifiably delayed': Expert snaps at Judge Aileen Cannon for dragging out Trump case
(DBN)

Judge’s hot tub social media post makes waves with judicial conduct commission; she quotes Cardi B in response
(DBN)

Judge Gets In Trouble For Giving Good Advice And Having Fun
(DBN)

Judge accused of stepping on girlfriend's neck won't recuse in domestic violence cases
(DBN)

Indictment accuses judge of using public funds to employ his son, travel, buy couch and alcohol
(DBN)

A Judge Allowed His Secretary to Work Remotely. Now He Faces Discipline
(DBN)

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Wall Street:

S&P 500 futures gain after Meta, Amazon results as jobs report looms
(DBN)

Why stocks just had their worst day of the year
(DBN)

One of Wall Street's top technical analysts says now is the time to short stocks as a correction looms
(DBN)

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Layoffs:

Why don't many executives take pay cuts to avoid layoffs? An ex-Microsoft HR VP explains.
(DBN)

Zoom is cutting about 150 jobs
(DBN)

Over 500 journalists were laid off in January 2024 alone
(DBN)

Okta to lay off 7% of staff, about 400 employees
(DBN)

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Autos:

Demand for BYD's cars is so nuts the company had to create its own shipping fleet to export them around the world
(DBN)

Is China now the world’s top car exporter? It’s complicated
(DBN)

Volvo Will Stop Funding Polestar EV Brand but Keep Collaborating
(DBN)

Vehicles Sales Decrease to 15.0 million SAAR in January; Down 1% YoY
(DBN)

A year after bankruptcy concerns, Carvana is leaner and ready for its Wall Street redemption
(DBN)

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Corporate Governance:

Elon Musk says Tesla shareholders will vote ‘immediately’ on quitting Delaware for Texas Musk's threat to re-incorporate Tesla boosts Texas' challenge to Delaware
(DBN)

CEOs can rest easy: The Musk ruling is not the end for outsized pay packages
(DBN)

Here's How Elon Musk's $56B Executive Comp Loss Could Reverberate
(DBN)

The Lawyer—and Drummer—Who Felled Elon Musk’s $55.8 Billion Compensation Package - WSJ
(DBN)

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Transit:

NY MTA Chief Says Fare Evasion an ‘Existential Threat’
(DBN)

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Cannabis:

Ken Paxton sues five Texas cities that decriminalized marijuana
(DBN)

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Labor:

Longshore union settles with former Portland cargo terminal operator, will pay $21 million
(DBN)

Elon Musk is suing to stop the government from enforcing labor laws. The Supreme Court might agree with him
(DBN)

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Economy:

Weekly Initial Unemployment Claims Increase to 224,000
(DBN)

January Employment Preview
(DBN)

US Jobs Report to Show Slower Hiring Pace After Annual Revisions
(DBN)

The US' $34 trillion debt deficit will drive inflation and worsen 'like global warming' over the next 10 years, Bond King Bill Gross says
(DBN)

The Fed's first rate cut won't happen until June after surprisingly cautious guidance from the central bank, Bank of America says
(DBN)

The Fed won't cut rates until after the 2024 election, Santander chief economist says
(DBN)

The Fed pushed back against imminent rate cuts this week. Here's what that means for the housing market.
(DBN)

Dealmakers face dilemma after Fed meeting
(DBN)

ISM® Manufacturing index Increased to 49.1% in January
(DBN)

AP-NORC poll finds an uptick in positive ratings of the US economy, but it’s not boosting Biden Americans starting to feel better about the economy but not about Biden: poll
(DBN)

The Bankruptcy of Nostalgianomics
(DBN)

America is facing a 'fringe friend' crisis
(DBN)

House GOP revolt fails to stop passage of bipartisan tax bill
(DBN)

How Congress is planning to lift 400,000 kids out of poverty
(DBN)

Extraction of raw materials to rise by 60% by 2060, says UN report
(DBN)

TX: Teen Birth Rate Jumps After Roe's End
(DBN)

From Gaza to Sudan, conflict is driving a rise in hunger worldwide
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Inflation Adjusted House Prices 2.3% Below Peak; Price-to-rent index is 7.0% below recent peak
(DBN)

Realtor.com Reports Active Inventory UP 10.1% YoY; New Listings up 2.1% YoY
(DBN)

Construction Spending Increased 0.9% in December
(DBN)

A $560 Billion Property Warning Hits Banks From NY to Tokyo
(DBN)

A commercial real estate crash is unfolding, and regional banks are feeling the pain
(DBN)

Gamble on US Commercial Property Blows Up for Japan’s Aozora
(DBN)

Nir Meir files for bankruptcy
(DBN)

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Oil/Gas:

Saudi Arabia's head-scratching oil production move
(DBN)

GOP senator says he’ll block Biden nominees over ‘absurd’ natural gas project delays
(DBN)

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Banking:

Banks are being rocked again as real estate losses mount
(DBN)

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Climate:

New-wave reactor technology could kick-start a nuclear renaissance — and the US is banking on it
(DBN)

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Climate:

Texas just broke a record for how much power it got from the sun
(DBN)

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Student Debt:

House Republicans are moving forward with a bill that would overhaul student-loan repayment and make it harder for Biden to get relief to borrowers
(DBN)

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Tech:

Senators fail to press social media CEOs on AI at child safety hearing
(DBN)

Hawley presses Zuckerberg to compensate online harm victims
(DBN)

Sparks fly as senators push CEOs to support online safety bills
(DBN)

Mark Cuban says X is ‘impossible’ to use, shares barrage of daily antisemitism his account gets
(DBN)

Apple China Slowdown Sparks Fears That Prized Market Is at Risk
(DBN)

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Education:

Group of Jewish leaders defends Israel criticism
(DBN)

Educators wrestle with new limits on teaching Black history
(DBN)

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Transit:

Cities with the slowest traffic, mapped
(DBN)

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Crypto:

FTX bankruptcy proceedings have been adding pressure to bitcoin price
(DBN)

FTX Hack Mystery Possibly Solved: U.S. Charges Trio With Theft, Including Infamous Attack on Crypto Exchange
(DBN)

Crypto exchange set up by Three Arrows co-founders to shut down
(DBN)

Genesis reaches $21 mln SEC settlement in bankruptcy wind-down
(DBN)

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Utilities:

Potential court ruling on PREPA liens sparks broad revenue bond concerns
(DBN)

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Retailing:

The decline of the luxury department store
(DBN)

Amazon reports better-than-expected results as revenue jumps 14%
(DBN)

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Celebs:

Katie Price's car collection 'seized by bailiffs’ from Mucky Mansion amid financial woes
(DBN)

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Politics:

Luntz: Biden is weakest incumbent since Carter
(DBN)

The Knives Are Already Out in the Trump VP Race
(DBN)

Haley attacks Trump’s morals, age and wealth as she looks to stave off home state loss
(DBN)

GOP moderates adopt hard-line tactics amid Republican infighting Moderates who rebelled against GOP leaders notch win in advancing SALT bill
(DBN)

Trump leads Haley in South Carolina by 26 points, poll shows
(DBN)

A candidate targeted by a deepfake has an AI warning for America
(DBN)

How Taylor Swift and Travis Kelce became the focus of baseless political conspiracy theories James Carville knocks ‘sexually inadequate’ Taylor Swift conspiracy theorists MAGA World Is About to Meet Taylor Swift’s Fandom. It Won’t Go Well What it’s like to be endorsed by Taylor Swift Why conservatives are melting down over Taylor Swift Fears for Taylor Swift's safety amid backlash from Trump supporters ahead of election
(DBN)

Oregon high court says 10 GOP state senators who staged long walkout can’t run for reelection
(DBN)

Defense Secretary Austin admits "we fell short" on hospitalization
(DBN)

80% of Dean Phillips’ Q4 presidential fundraising was from his own wallet
(DBN)

Schumer won't commit to Mayorkas impeachment trial
(DBN)

Inside Kevin McCarthy’s vengeance operation against the Republicans who fired him
(DBN)

Kyrsten Sinema steering a 'mind-boggling' amount of money to Tulsi Gabbard's sister
(DBN)

Geographically-Challenged: Sen. Tom Cotton Repeatedly Asks Singaporean CEO If He's A Chinese Communist
(DBN)

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Furniture:

Customer concerns continue to arise after Ruby-Gordon bankruptcy filing Ruby Gordon bankruptcy: Resolving outstanding orders
(DBN)

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Fishing:

American Shrimpers Face Extinction
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (29 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (2 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Real Estate Pressure Likely to Keep Chapter 11 Filings Flowing in 2024
(DBN)

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Appeals:

A Settlement While Appeal is Pending Deprives Appellate Court Of Jurisdiction (Badaiki v. Calmeron)
(DBN)

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Bankruptcy Research:

Bankruptcy in Black and White: The Effect of Race and Bankruptcy Code Exemptions on Wealth
(DBN)

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Miscellaneous:

One down, eleven to go...
(DBN)

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Cross-Border:

Third Circuit Guidance Refines 30-Year-Old Bankruptcy Precedent
(DBN)

Byju’s U.S. Unit Files for Chapter 11 Bankruptcy, Cites Liabilities of $1-10 Billion Byju's US unit files for bankruptcy in Delaware Byju’s US arm files for bankruptcy in latest blow to troubled tutor
(DBN)

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Mass Torts:

Warren Nudges DOJ Toward Dismissal of Prison Health Bankruptcy Sen. Warren asks Justice Department to consider nixing Corizon's bankruptcy
(DBN)

Publicis Health Settles Lawsuit Related to US Opioid Marketing AG Ferguson: PR firm will pay Washington state $7.9 million for helping Purdue aggressively and deceptively market opioids
(DBN)

An OxyContin advertiser will pay $350 million in the first-ever opioid marketing settlement
(DBN)

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SCOTUS:

Chemerinsky: Supreme Court will hear some of its biggest cases of the term this month
(DBN)

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Aviation:

Boeing shareholders sue after midair 737 Max 9 blowout
(DBN)

How Boeing put profits over planes
(DBN)

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Video Games:

The video game industry is in trouble. Here's why.
(DBN)

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Radio:

Audacy Seeks Bankruptcy Court OK To Redeem Its Ownership Stake In BMI.
(DBN)

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Biotech:

Innovative biotech firm files Chapter 11 bankruptcy to close down
(DBN)

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Healthcare:

HCA buys 3-year-old bankrupt hospital
(DBN)

As Steward hospitals teeter, CEO’s $40 million yacht is docked in the Galapagos Islands
(DBN)

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Sovereigns:

IMF Boss Says Deal With Egypt ‘Close’ After Rate Hike Caps Talks
(DBN)

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UK:

Insolvency Service sees 42% drop in prosecutions
(DBN)

Telegraph co-owner faces bankruptcy threat
(DBN)

UK’s biggest nightclub chain closes 17 venues immediately including Pryzm and Atik after plunging into administration
(DBN)

Four reforms to stop English councils from going bankrupt Woking: Public toilets face closure to save bankrupt council cash Croydon’s hard-fought battle against bankruptcy Coventry City Council urged to reassure taxpayers over pay claims Could Local Councils In England Really Go Bankrupt? Here's What You Need To Know` Homelessness at heart of councils’ £4bn funding black hole, MPs warn: ‘It’s an out-of-control crisis’
(DBN)

FE Commissioner flags insolvency risk after Leicestershire college ‘took their eye off the ball’
(DBN)

Every home in England to be hit by big tax increase in new blow
(DBN)

Britain to test fire nuke missile in major show-of-force with sub launching 44ft Trident 2 for first time since 2016
(DBN)

Boutique hotels to bankruptcy, where things went wrong for Lawrence Kenwright
(DBN)

'Buying a flat ruined my life': Leaseholders plead for tougher legislation against home ownership 'scam' Major UK bank agrees compensation over mortgages that ‘ruined lives’
(DBN)

Brit hedge fund trader, 54, accused of being 'central mastermind' behind £36million 'cum-ex' tax fraud is jailed for six years in Denmark | Daily Mail Online
(DBN)

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EU:

Early Trends Point to Worst European Earnings Season in 15 Years
(DBN)

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Canada:

3 landlords among largest real estate holders in Ontario owe $144M, under bankruptcy protection: documents
(DBN)

Homebuyers in Canada Are So Frenzied They Won’t Wait for Rates to Go Down
(DBN)

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China:

China is facing a brutal reality as it desperately tries to fix its population decline problem
(DBN)

China pledges more help for its ailing property market, as IMF forecasts economy will slow China Criticizes IMF’s Growth Outlook, Calls to Boost Confidence
(DBN)

Inside China's execution conveyor belt: How 'mobile injection vans and firing squads are used to put thousands to death a year' - outstripping capital punishment figures for the rest of the world combined
(DBN)

China merges hundreds of rural banks amid looming financial crisis
(DBN)

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MENA:

Gaza economic recovery to take decades: UN
(DBN)

A Houthi missile got so close to a US destroyer the warship turned to a last-resort gun system to shoot it down: report
(DBN)

Biden to issue executive order targeting violent Israeli settlers in the West Bank
(DBN)

UN agency for Palestinian refugees warns it may have to halt all operations by end of month
(DBN)

Plans for U.S. strikes on Iranian personnel and facilities approved
(DBN)

Israel and Lebanon are prepping for a war neither wants, but many fear it’s becoming inevitable
(DBN)

South Africa says Israel is already ignoring UN court ruling ordering it to prevent deaths in Gaza
(DBN)

Survey: Nearly half of Asian Americans say Palestinians need more support
(DBN)

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Russia:

Russian property seized in London as part of $60bn Yukos legal battle
(DBN)

Embattled army chief lays bare Ukraine’s challenges, at home and abroad Ukraine's embattled army chief calls for new approach after setbacks
(DBN)

Russia’s frozen assets are generating billions. The EU is getting ready to send them to Ukraine
(DBN)

Zelenskyy thanks the EU after it agrees on a new 50 billion-euro aid package for Ukraine
(DBN)

Ukraine Says 'Destroyed' Russian Warship Off Crimea
(DBN)

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Australia:

Lavish lifestyle to ‘no assets’: Judge makes fresh order against NAB fraudster
(DBN)

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Thailand:

JKN ordered to explain restructuring moves
(DBN)

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India:

Sitharaman vows to extend reforms, focus on IBC and PSB professionalisation
(DBN)

Paytm Erases $2 Billion in Two Days as RBI Action Spooks Market
(DBN)

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