February 22, 2024

The Daily Bankruptcy News

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Law:

Biglaw Firm Names Its First-Ever Black Managing Partner
(DBN)

Selendy Gay Spin-Off Firm Opens Its Doors, With More Partners From The Elite Boutique In Tow
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Quinn Emanuel's 38% PEP Growth Came From Heightened Leverage, High-Profile Cases
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Lewis Brisbois Top Officers Leaving in Back-Office Shakeup
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Sheppard Mullin Announces 2024 Partner Class
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Top In-House Counsel Band Together to Experiment with Gen AI
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Law prof who wrote about ‘the law school scam’ settles discrimination suit for $160K
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Some Clients Won't Consider Lawyers For Larger Legal Matters
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ABA law school accreditation not necessarily needed to take Indiana bar exam, top state court decides
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Stop It: Your Harvard Law Degree Does Not Make You A Man Of The People
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Move Over Joe Rogan, The Lawyers Are Here
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Defendant acquitted by reason of insanity can’t be retried, despite inconsistency, SCOTUS rules in Jackson opinion
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Coca-Cola delivery man who used slurs as result of Tourette syndrome loses disability suit after job transfer
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Trump and allies plotting militarized mass deportations, detention camps
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Judge Cannon blocks Trump lawyers' plan for a deluge of legal filings Trump Promises 10 Bigly Crazy Motions In Stolen Docs Case
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‘Who’s going to do that?’: Trump faces hurdles in securing appeal bond for fraud case Trump attorney says NY AG is trying to collect on civil fraud verdict without notice Trump seeks delay in enforcement of civil fraud penalties Was Trump's New York fraud case a victimless crime? Why that question is key to his appeal.
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Trump attorney wants to propose a 'counter-judgment' in $355M civil fraud case: court docs
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Accused Jan. 6 rioter wore jacket with his own company logo and phone number: Feds
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Giuliani appeals $148M defamation verdict in Georgia election workers’ lawsuit Despite Bankruptcy, Rudy Giuliani Seems To Be Spending Lavishly On Long-Shot Legal Maneuvers
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Chemerinsky: How not to decide Trump’s Colorado ballot case
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Judge Orders Pillow Pumper To Pay Up In Election Fraud Contest Federal court says Mike Lindell must pay $5 million to engineer who proved him wrong
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Epstein Had a Creepy Panopticon Room to Monitor All His Guests
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Warnings of the impact of fertility treatments in Alabama rush in after frozen embryo ruling Shock, anger, confusion grip Alabama after court ruling on embryos Alabama hospital puts pause on IVF in wake of ruling saying frozen embryos are children Alabama Supreme Court ruling adds to legal uncertainty around IVF ‘Another hot potato’: Alabama’s IVF ruling risks political, legal backlash Alabama Embryo Ruling Casts Shadow Over Future of IVF ‘Embryos, to Me, Are Babies,’ Haley Says Ahead of South Carolina Primary
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How Oregon turned on its own trailblazing drug law: ‘Not the utopia we were promised’
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Biden considering executive action to restrict asylum at border Biden considering major new executive actions for migrant crisis Adams cancels upcoming budget cuts amid migrant savings
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Arizona prosecutor says will not extradite suspect in New York hotel murder NYC DA lashes out after Republican prosecutor refuses extradition of accused murderer
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NYC’s non-citizen voting law ruled unconstitutional on appeal
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Reporter investigated neo-Nazis. They came to his house in masks
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Kansas City parade shooting suspect 'randomly picked' target, other gunman fired as he tripped
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GA lawmakers eye criminal charges against librarians over content of books...
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GOP advances bill opponents say would pave the way for discrimination of LGBTQ Kentuckians
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Oklahoma Pols Want Database of Everyone Who Has Abortion Bill to put abortion patients into 'identifier database' gets closer to becoming reality
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Feds charge Japanese Yakuza leader with nuke materials trafficking
(DBN)

Anti-cop driver who killed NYPD officer in boozy hit-and-run sentenced after widow's emotional plea in court
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American who traveled 8,000 miles to train with terrorist network faces charges, feds say
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NJ cop slams own police chief onto car hood after boss allegedly shows up drunk to accident scene
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Footage Shows Los Angeles Cops Kill Man Clutching Plastic Fork
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Settlement reached between Gabby Petito and Laundrie families
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Woman, 78, shot in head while sleeping on couch because her house had red curtains: Cops
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Alabama seeks to carry out second execution using nitrogen gas
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Convicted murderer was missing from prison for a year before anyone noticed: Prosecutors
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More outraged families say loved ones were wrongly buried in a Mississippi pauper’s field
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TikTok comedian who posed as fake cop, posted videos about 'booting Hyundais' arrested
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Carnival Cruise passenger smashes glass into man’s face over being asked to quiet down during show
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Mapped: U.S. prison population rises for first time in nearly 10 years
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Judges:

“Special Masters” Are Needed In Bankruptcy: An Interview With Judge Kaplan
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'Disobedience to God': Evangelicals freak out as statue pays homage to Ruth Bader Ginsburg
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Meet the Delaware judge who keeps foiling Elon Musk
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Wall Street:

S&P 500 and Nasdaq futures surge as Nvidia rallies after strong earnings
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Companies Scramble to Reduce Expectations as Stocks Ignore Risks
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Nvidia shares pop 12% in premarket trade after AI-fueled bumper earnings What Bubble? Nvidia Profits Are Rising Even More Than Its Stock
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She Was Set to Break Goldman’s Glass Ceiling. Now Beth Hammack Is Leaving
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Layoffs:

Rivian stock falls as EV maker reports fourth-quarter results, announces 10% job cuts Rivian workers have a tough morning ahead
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Your lost job might be good for someone else's stock portfolio
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BuzzFeed to Lay Off 16 Percent of Its Workforce In Major Cuts
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Tech:

"Extremely concerned": UN official warns Silicon Valley execs of AI dangers
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ChatGPT Goes Off The Rails, Spewing Nonsense to Users ChatGPT has officially gone off the rails – spouting Latin and making up words
(DBN)

Google to Pause Gemini Image Generation of People After Issues
(DBN)

The New AI-Powered Bing Is Threatening Users. That’s No Laughing Matter
(DBN)

X withholds certain accounts and tweets after order from Indian government X takes down accounts that media say are linked to Indian farmer protests India Orders Blocks on Some Social Media Accounts Amid Protests
(DBN)

Elon Musk humiliated as locals veto Tesla factory expansion in landslide vote
(DBN)

Google apologizes after new Gemini AI refuses to show pictures, achievements of White people
(DBN)

Self-driving taxi expansion paused in L.A., Northern California
(DBN)

Your brain needs a really good lawyer
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Healthcare:

Health care costs lead financial worries, poll finds
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6 in 10 hold favorable view of Affordable Care Act in new polling
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Pritzker’s budget to include plan to erase $1 billion in medical debt
(DBN)

83 percent of doctors in new survey say AI could help fight burnout
(DBN)

Tax records reveal the lucrative world of covid misinformation
(DBN)

America's drug overdose crisis has profound ripple effects 42% Know Someone Who Died from Overdose
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Biden admin commits $100M for women’s health research
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Hospital workers dump grieving woman's baby ashes after stealing teddy bear urn, cops say
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Cannabis:

Veterans groups join calls for Biden administration to reschedule marijuana
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Economy:

Fed rate hikes are creeping back into the conversation
(DBN)

Fed fretted about cutting rates "too quickly" FOMC Minutes: "Most participants noted the risks of moving too quickly to ease the stance of policy" Fed officials expressed caution about lowering rates too quickly at last meeting, minutes show
(DBN)

Many Americans Believe the Economy Is Rigged
(DBN)

American companies are investing in robots to do the work they can’t find people to do
(DBN)

It’s Been 30 Years Since Food Ate Up This Much of Your Income
(DBN)

The US is heading towards stagflation, which would be terrible news for stocks, JPMorgan says
(DBN)

Freedom Caucus raises government shutdown risk 'It's about to blow up': GOP lawmakers report rumored government shutdown
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US Debt Clock
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World Debt Clock
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Real Estate:

MBA: Mortgage Applications Decreased in Weekly Survey
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AIA: "Architecture Billings Index Reports Sluggish Conditions to Start 2024"; Multi-family Billings Decline for 18th Consecutive Month
(DBN)

Insurance crisis leaves homeowners vulnerable in hurricane-prone Louisiana
(DBN)

America's housing affordability crisis makes a comeback
(DBN)

52% of Black Americans say homeownership is a mark of success. But it can conflict with other goals
(DBN)

World's most expensive property with $300 Million price tag -- in Naples, FL
(DBN)

WeWork reaches deal to keep last Portland location open in bankruptcy shuffle
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Municipalities:

Filling an Empty Arsenal: Puerto Rico’s Bankruptcy from the Recovery Act to PROMESA
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Highland Park council refuses to approve state deal to settle its huge water, sewer bill
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70% of largest U.S. cities lack funds to cover costs; pensions and healthcare are majority of debt
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Oil/Gas:

The Rising Cost of the Oil Industry’s Slow Death
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Student Debt:

Biden administration releases proposed guidelines for student loan hardship Biden Guidelines For Student Loan Forgiveness Aid Debtors Close To Default
(DBN)

More Lawyers Working In Public Service Are Starting To See Their Student Loans Vanish Thanks To The Public Service Loan Forgiveness Program
(DBN)

Biden will email 153,000 student loan borrowers: I’m canceling your debt
(DBN)

Biden cancels student debt for 150K borrowers
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Student Loan Borrowers Urged to Check Emails for Cancellation Eligibility
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Climate:

Biden’s sweeping green vision crashes into reality
(DBN)

Japan beset by record-breaking heat wave
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'Zombie' Underground Fires Still Burning in North America Despite Winter
(DBN)

Climate Change to Slash African GDP by 7.1%, Study Shows
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Retailing:

St. Louis-based retailer to close all remaining stores amid bankruptcy
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Education:

‘Despicable’. Harvard student and faculty groups denounced over antisemitic cartoon.
(DBN)

Universities’ Competing Free Speech Obligations Need Untangling
(DBN)

Protesters gather near Texas superintendent’s home ahead of trial over Black teen’s dreadlocks
(DBN)

Yale Brings Back SAT Testing as Best Way of Predicting Success
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Tax:

IRS to ramp up audits of private jet usage
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Labor:

U.S. saw highest number of strikes since 2000
(DBN)

Ford just dodged an autoworker strike at its biggest plant
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Crypto:

Judge allows Sam Bankman-Fried to keep his new lawyers after prosecutors warn of conflict of interest Bankman-Fried Trial Attorneys to Withdraw From Case Before Sentencing, FTX Founder's New Lawyer Tells Judge
(DBN)

Lawsuit Throws Spotlight on Former FTX GC, Calls Him Sullivan & Cromwell's 'Man on the Inside'
(DBN)

DCG Calls Out Subsidiary Genesis' Settlement With New York as 'Subversive'
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Media:

BuzzFeed selling off more parts
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Food/Beverage:

Red Lobster makes change to all-you-can-eat deal after customers ate so much the restaurant suffered huge losses
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She Got $10,000 Tip and Then Got Fired
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Celebs:

Broke former art mogul whose social-climbing antics shocked Manhattan compares herself to Steve Jobs as her Hamptons compound is sold for $89M, leaving her millions in debt
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Maritime:

Cruise Line Shuts Down and Cancels All Sailings Hornblower Recapitalizes Through Bankruptcy, Closing American Queen Voyages Hornblower Group to Be Acquired by SVP and Receive New Equity Investment
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The company that owns the NYC Ferry is filing for bankruptcy
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Utilities:

PREPA judge rejects immediate consideration of bondholders' efforts for a receiver
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Art:

$89 Million Can’t Fix Her Mistakes
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Corporate Governance:

Incorporating Responsibility
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Bioenergy:

Enviva at risk of bankruptcy as Fitch downgrades rating
(DBN)


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Fraud:

'Like an addiction': Thousands of Americans fall prey to Mexican cartel timeshare scam
(DBN)

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Autos:

Millennials Are Losing Their Cars
(DBN)

Why car insurance rates are soaring
(DBN)

Mercedes Sees Lower Returns This Year on Slowing Economy
(DBN)

Japan Demands Auto Industry Probe as Scandals Rile Toyota Units
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Religion:

Former Australian bishop charged with historical sex offenses
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Banking:

A Banking Crisis Could Be Closer Than You Think
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Insurance:

Vesttoo creditors, Beazley, Porch settle on bankruptcy plan & Vesttoo Bay XIX funds
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Personal Finance:

More travelers risk booking hotel rooms on sites that tack on steep fees
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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (22 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (3 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Mass Torts:

Boy Scouts Sex Abuse Settlement Update
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Examiners:

FTX: Forcing The Examiner Mandate in the Third Circuit
(DBN)

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Valuation:

A Primer on Option Valuation in Restructuring
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Venue:

Sorrento faked venue in bankruptcy filing, Justice Department says Is a mailbox an office? Not according to the US' bankruptcy argument against Sorrento Therapeutics
(DBN)

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Finance:

Proposed Change to Rated Note Funds Could Disrupt Bankruptcies
(DBN)

Private Credit Pushes Into Banks’ Infrastructure Lending Turf
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Aviation:

Wild moment American Airlines passenger tackled by fliers & put in zip ties after ‘trying to open plane door mid flight’
(DBN)

Boeing replaces head of 737 MAX program following door plug blowout
(DBN)

Airline Said It's Not Responsible For Terrible Advice From Its Own Customer Service AI Bot. The Court... Disagreed.
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Consumer Finance:

BNPL popularity rises among ‘financially fragile’ consumers
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Politics:

Donald Trump’s Cash Crunch Just Got Much, Much Worse Trump Campaign Spent More Than It Raised, While PAC Helped on Legal Fees Donald Trump's donor numbers fall by 200,000 compared with 2019
(DBN)

Most voters say Biden, Trump both mentally unfit Old men lace up: Biden, Trump try to keep up with Gen Z and Millennials Poll: Nearly 70 percent of voters say Biden is too old to serve again
(DBN)

The presidential money machine is stalling out, and there are warning signs for both Biden and Trump
(DBN)

Biden calls Putin 'a crazy SOB' and ridicules Trump at San Francisco fundraiser Russia vilifies ‘Hollywood cowboy’ Biden for cursing Putin
(DBN)

Haley, trailing Trump, still pulling in millions Haley attracts Biden donors as she tries to chase down Trump In South Carolina, Haley is running hard on Russia
(DBN)

Ron DeSantis shares his concerns about Trump in a private call with supporters
(DBN)

Mike Johnson invoked God in a GOP presentation on keeping the majority. It didn’t land well.
(DBN)

It’s an election year, and Biden’s team is signaling a more aggressive posture toward the press
(DBN)

Jordan: Informant’s indictment ‘doesn’t change fundamental facts’ of GOP case against Biden Republican busted making massive flip after informant accused of lying to Biden inquiry Named and Shamed: These Republicans preached Biden bribery claims 'like gospel' Giuliani associate Lev Parnas says he told FBI in 2019 Biden informant not to be trusted Raskin: Biden impeachment inquiry squashed by Smirnov allegations Ex-Hunter Biden Informant's Charges Put Spotlight on Christopher Steele Prosecutors push to send FBI source accused of lying about Bidens back to jail
(DBN)

'We can just tell this guy whatever': How Russian spies fed lies directly to GOP lawmakers
(DBN)

Trump's vision for the military: hunting cartels, patrolling US cities, quelling dissent
(DBN)

James Biden testifies Joe had ‘no direct or indirect’ role in his business during House impeachment inquiry James Biden reveals he threw out a second diamond gifted to Hunter by the Chinese to 'entice' him to do business James Biden insists there was nothing wrong with brother Joe loaning him $200,000: Hunter uncle's says he paid the money back as soon as possible after he got a check from the hospital chain that collapsed
(DBN)

Neo-Nazis holding sign saying ‘Jews love genocide’ protest in Florida park
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Sovereigns:

Africa’s debt crisis needs a bold new approach: expert outlines a way forward
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UK:

Somerset Council could still go bankrupt within 12 months despite passing a balanced budget Government commissioners appointed to run 'bankrupt' Nottingham City Council
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UK PMI Survey Shows Economy Growing With Optimism at 2-Year High
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EU:

Traders Reduce Bets on ECB Cuts This Year to Less Than One Point
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German Factory Malaise Deepens as Activity Unexpectedly Falls
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Euro Zone Overcomes German Factory Weakness as Downturn Eases
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Canada:

Canadian Overseas Petroleum Ltd Announces Business and Financial Performance Update
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Germany:

Germany says Europe’s largest economy is in ‘troubled waters’ and cuts its growth forecast
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MENA:

Rape and sexual assault took place during Hamas attack, Israeli association says
(DBN)

Gaza aid deliveries paused amid ‘incredible level of desperation’
(DBN)

Israeli Officials Push Ahead With Rafah Plan Without Precise Strategy
(DBN)

CIA chief expected in Paris for Gaza hostage talks as U.S. pushes for deal before Ramadan
(DBN)

Israel denies reports Hamas leader and brother have escaped to Egypt
(DBN)

“Kill ’Em All,” Republican Congressman Says of Palestinians in Gaza
(DBN)

Dubai Property Frenzy Sees Buyers Queue for Million-Dollar Homes
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Russia:

4 Myths About Ukraine that Might Sound Right But Are Actually Wrong
(DBN)

Navalny’s mother goes to court over officials’ refusal to release son’s body The Daunting Task Facing Navalny’s Widow
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LA ballerina detained in Russia for treason was visiting her aging grandmother, boyfriend says
(DBN)

US tells allies Russia could launch space nuke this year What are space nukes, the latest threat raising tensions in Moscow and Washington?
(DBN)

In Chaotic Retreat, Hundreds of Ukrainian Troops Feared Captured or Missing
(DBN)

War in Ukraine Is Turning in Putin’s Favor After Months of Stalemate
(DBN)

After recent gains, Russia signals it could try to seize Kyiv again
(DBN)

EU agrees on more Russia sanctions — but do they work? White House struggles to increase pressure on Russia as options dwindle
(DBN)

G-7 to Vow Ukraine Support Won’t Waver as War Enters Third Year
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Biden paves way for Mark Rutte to lead NATO — and confront Putin
(DBN)

Iran Sends Ballistic Missiles to Russia
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China:

China’s Property Foreclosures Surge as Growth Slows
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Japan:

Japan Stock Market Hits All-time High Japan Nikkei Hits Record High Last Seen More Than 30 Years Ago As Tokyo stocks rally, many Japanese find themselves left behind
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Japan’s Manufacturing PMI Falls to Lowest Since August 2020
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Vietnam:

Liquidation Of A Vietnamese Enterprise
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Australia:

‘Deficiencies’ in bankruptcy process for struck-off solicitor, says judge
(DBN)

Bankrupt solicitor maintains ‘grave’ racism allegations despite warnings
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