February 29, 2024

The Daily Bankruptcy News

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Law:

Return To Office Policies Attempt To Catch Bees With Vinegar
(DBN)

Law Professor Turned Congresswoman Earns Six-Figure Campaign Contribution From Law Firm's Managing Partner
(DBN)

9th Circuit revives suit to register racehorse as ‘Malpractice Meuser,’ thought to be lawyer jab
(DBN)

Biglaw Associate Says He Was Fired As Part Of 'Political Purge'
(DBN)

Why Law Firms Could Be Private Equity’s Next Conquest
(DBN)

Revenue Up at Jackson Walker, But Profits Per Equity Partner Dip With Transactional, Real Estate Work Down
(DBN)

Lawyers Spend Way Too Much Time Dealing With Expenses
(DBN)

Small Favors Can Lead To Big Referrals
(DBN)

AI Use in Law Practice Needs Common Sense, Not More Court Rules
(DBN)

ABA considers expanding law school diversity standards
(DBN)

Biglaw Firm Is Growing In Texas
(DBN)

Bar exam takers in California literally left in the cold, they say
(DBN)

Tesla's Last-Minute Cancellation Of Pie Orders Resembles A Bar Exam Essay Question
(DBN)

5 Things You Should Know About The Alabama Declaration That Embryos Are People
(DBN)

Students Should DEFINITELY Turn Down Better Schools To Attend ASSLaw... Be Our Guest!
(DBN)

ABA Committee Decides To Diversify Diversity. It Should Come With A Clear Reason For Why That's Important.
(DBN)

Texas Lawyer Steals ~$200k In Trust Funds From Client
(DBN)

SEC goes after bankrupt Terraform Labs' $166 mln 'slush fund' for Dentons
(DBN)

Inside the GOP Fight Over Trump’s Mounting Legal Costs
(DBN)

Supreme Court agrees to weigh Trump’s criminal immunity in historic case Supreme Court sets stage for blockbuster showdown between Jack Smith and Trump on immunity Supreme Court Agrees to Hear Trump’s Immunity Claim, Setting Arguments for April Supreme Court to Weigh Trump Immunity, Keeps DC Trial on Hold Toobin: SCOTUS ruling is a ‘gift to Trump’ regardless of outcome How the Supreme Court just threw Trump’s 2024 trial schedule into turmoil Supreme Court stalls Trump’s federal election trial while weighing his immunity bid Trump can still win even if SCOTUS rejects his immunity claim The Supreme Court just handed Trump an astonishing victory Supreme Court hands Trump a huge win before it even hears his case
(DBN)

Chutkan criticizes DOJ for seeking ‘unreasonable’ Jan. 6 sentence 'Coors lite in the capitol': School board member boasted about beer on Jan. 6, feds say Jan. 6 rioter who bragged he was 'brawling at the door' of the Capitol gets prison time
(DBN)

Aileen Cannon Hands Donald Trump Second Legal Loss in 24 Hours Jack Smith blasts Trump lawyers for insisting on 'outing' all Mar-a-Lago case witnesses
(DBN)

Hackers threaten to release Trump documents from Georgia case if they don't get a ransom by Thursday
(DBN)

Trump says he'll only hand over $100M of $450M civil fraud ruling Trump said he had $400M in cash. Now his lawyers say bond is a struggle. Trump loses bid to pause $454.2 million judgment in NY civil fraud case Trump ordered to pay full $454 million fraud judgment, but can apply for loans during appeal Trump Says He Might Have to Sell Properties to Pay $454 Million Penalty Judge Halts Trump’s Punishment But Not $464 Million Payout Donald Trump's Cash Problem Is Used Against Him Trump ordered to pay full $454 million fraud judgment, but can apply for loans during appeal Trump seeks to stay collection of "exorbitant" civil fraud case fine Trump Eyes $4 Billion Stock Windfall as His Legal Bills Pile Up Donald Trump's financial rescue has a hiccup
(DBN)

Trump Revives Fight Over $937,989 Fine in Failed Clinton Suit
(DBN)

This Is Not A Drill: Donald Trump Actually Paid Someone He Lost To In Court, And It's The New York Times
(DBN)

Illinois judge removes Trump from primary ballot Judge rules Donald Trump should be removed from Illinois primary ballot as Supreme Court faces urgent deadline
(DBN)

Georgia governor says Fani Willis-led prosecution looking more political
(DBN)

Jeff Clark loses bid to block key Trump officials from testifying in disciplinary trial
(DBN)

'Grab bag of lesser allegations': Writer sees GOP scrambling as Hunter likely last witness ‘MAGA-motivated conspiracies’: Hunter Biden decimates Comer and Jordan Hunter Biden skewers "baseless" GOP impeachment inquiry ahead of testimony Defiant Hunter Biden defends business moves, invokes Kushner deals IRS urges judge to throw out Hunter Biden's privacy violation claim 'in its entirety'
(DBN)

Number of monthly abortions about the same as before Roe overturned: Study
(DBN)

Mark Meadows loses another bid to move criminal case out of Georgia 11th Circuit refuses to give Mark Meadows' en banc petition the time of day
(DBN)

Eric Adams calls for an end to sanctuary cities as New York City struggles to care for close to 200,000 migrants who've arrived in last 18 months What to know about Texas’s militarization of the southern border Split screen: Biden, Trump and two very different border trips Texas Picks a Fight With Biden Over Powers to Patrol the Border
(DBN)

Biden touts efforts to reduce crime, pushing back on GOP claims: ‘Our plan is working’ Biden Looks to Change the Conversation on Immigration and Crime
(DBN)

No evidence of rising LGBTQ+ violent extremism or 'trans terrorism'
(DBN)

Supreme Court wrestles with Trump-era bump stock ban Supreme Court split over bump-stock ban
(DBN)

How Amy Coney Barrett could save us from fully legal automatic weapons
(DBN)

Rep. Lauren Boebert's teen son arrested after rash of robberies in her district Tyler Boebert Arrested, Faces 22 Charges Lauren Boebert's ex-husband defends his son who just got arrested, says the teen is a 'good-hearted child'
(DBN)

'Squandering the opportunity': Man freed by Obama arrested for doing the same thing again
(DBN)

Kansas City Chiefs superfan 'ChiefsAholic' admits to leading double life as bank robber
(DBN)

Widow of cyclist killed in crash by cop wins $3 million verdict but can’t collect
(DBN)

A Botched Execution in Idaho Renews Scrutiny of Lethal Injection Idaho halts execution by lethal injection after 8 failed attempts to insert IV line
(DBN)

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Judges:

New legal AI venture promises to show how judges think
(DBN)

White powder letter sent to Trump judge at Manhattan chambers
(DBN)

Judges in Trump-related cases face unprecedented wave of threats
(DBN)

BigLaw firm gets benchslapped for downplaying university deception in appellate brief’s facts section
(DBN)

Judges Start at the Beginning After Leaving Bench for Big Law
(DBN)

Alabama judge says God opposes IVF. Religions hold varied views.
(DBN)

Senator Kennedy’s Judicial Pop Quizzes Trip Up Nervous Nominees ‘Kennedy quiz’ stumps some federal judicial nominees; subjects include collateral estoppel and Article V
(DBN)

McConnell's legacy: Conservative courts for a generation
(DBN)

'One More Stressor': Three Circuits Keep Panels Secret Until Argument Day
(DBN)

______________

Wall Street:

US futures drop ahead of key inflation reading
(DBN)

S&P 500, Nasdaq close lower Wednesday as inflation report looms Wall St slips with inflation data on deck
(DBN)

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Layoffs:

Klarna says its AI assistant is doing the work of 700 people after putting the brakes on hiring
(DBN)

Thyssenkrupp may cut 5,000 jobs under steel unit revamp
(DBN)

Fanatics lays off more than 100
(DBN)

Bumble to lay off 350
(DBN)

Perrigo plots hundreds of job cuts
(DBN)

Northrop Grumman warns 1,000 space sector employees of potential layoffs
(DBN)

Electronic Arts to Cut 5% of Workforce
(DBN)

A comprehensive list of 2023 & 2024 tech layoffs
(DBN)

Vice Shuts Down Virtual Meeting After Staffers Flood Call With Thumbs-Down Emoji: ‘Impossible To Ignore the Emojis’
(DBN)

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Autos:

ID Auto Obtains Prepack Confirmation
(DBN)

Toyota was right about hybrid cars all along
(DBN)

Apple's electric car crash shows even a $2.8 trillion company can't burn cash forever
(DBN)

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Crypto:

Sam Bankman-Fried is dispensing crypto investment tips to Brooklyn prison guards: NYT
(DBN)

Sam Bankman-Fried Doesn't Want to Go to Prison for 100 Years ‘Barbaric’: FTX founder’s lawyers say he should get short jail term, pay back nothing Sam Bankman-Fried's lawyers say he should get a shorter prison sentence because he has autism
(DBN)

Unabomber Prosecutor Tapped to Lead Fresh FTX Investigation
(DBN)

SEC Objects to Terraform’s $166M Retainer of Law Firm Dentons: Reuters
(DBN)

Winklevoss’s Gemini to Return $1.1 Billion to Customers in New York Settlement
(DBN)

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Economy:

Where the economic distress is less
(DBN)

US economy on firmer footing heading into first quarter
(DBN)

Consumers fended off a recession — but keep spending like there's no tomorrow
(DBN)

Fed’s Williams Says Still ‘a Ways to Go’ to Reach 2% Inflation
(DBN)

A little-noticed inflation report in the past could get a lot of market attention on Thursday
(DBN)

Wall Street's favorite recession gauge has been flashing for 16 months, but the other key ingredient of a downturn is nowhere to be seen
(DBN)

Brazil urges 'new globalization' at G20 meet overshadowed by Ukraine
(DBN)

Schumer: Negotiators ‘very close’ to deal to avoid shutdown Government funding plan appears near — to both punt and advance new funding deals Jeffries Suggests Democrats Would Save Johnson From Removal Over Ukraine Aid Johnson reacts to being ganged up on at ‘intense’ White House meeting US Lawmakers in Deal to Avoid Imminent Government Shutdown
(DBN)

Employment rate for Americans with disabilities reached record high in 2023
(DBN)

The "she"-conomy is booming and expanding
(DBN)

‘Grand Theft Auto’ Maker Rockstar Games Asks Workers to Return to Office Five Days a Week
(DBN)

G-20 Gets All Coy About Debt Even as Members’ Borrowings Balloon
(DBN)

Almost 630,000 people worldwide are now worth at least $30 million, Knight Frank says
(DBN)

Millennials on course to become ‘richest generation in history’
(DBN)

Job Cuts, Fleeing Investors: How Anti-DEI Lawsuits Take a Toll on Targets
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Freddie Reports Surge in Multifamily Serious Delinquencies
(DBN)

Americans are moving a lot less — and boomers may be to blame
(DBN)

Wall Street's next big bet could revolutionize homeownership
(DBN)

The US housing market added $2 trillion in value last year, boosted by a nationwide shortage of homes for sale
(DBN)

Declining boomer ownership will free up 9.2 million homes by 2035, Freddie Mac says
(DBN)

Why US housing inflation relief may be short-lived
(DBN)

Biden administration to boost affordable housing programs, supply of manufactured homes
(DBN)

A tent encampment rises outside Ojai's stately City Hall. Its residents might break your heart
(DBN)

Contractors aim to push Oceanwide into bankruptcy
(DBN)

Four Seattle-Area MF Complexes Enter Bankruptcy Proceedings
(DBN)

NYC millionaire couple are left horrified after buying their dream $2M mansion for them and their Down Syndrome son only to find a squatter who claims he's the caretaker, tries to rent out rooms for $50 per night and has refused to leave for four months
(DBN)

____________

Oil/Gas:

Oil Demand to Peak After 2030
(DBN)

California towns are banning new gas stations. Big Oil is paying attention.
(DBN)

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Retailing:

US lawmakers put pressure on Temu, Shein, and their use of a shipping loophole that helps keep their prices low
(DBN)

Tattered Cover Bookstore Faces $340K January Loss Amid Chapter 11 Reorganization
(DBN)

Amazon Aggregator Thrasio Files For Bankruptcy Protection After Raising Billions From Investors
(DBN)

____________

Food/Beverage:

Wendy's may have doomed its 'dynamic pricing' idea before it even started Wendy's, burned by CEO comment, vows no price surges for burgers
(DBN)

____________

Tech:

Elon Musk declares 'whole civilisation is at stake' and he's the 'only solution'
(DBN)

We’re already using AI more than we realize
(DBN)

Digital Media Outlets Sue OpenAI for Copyright Infringement The Intercept and Raw Story Sue OpenAI
(DBN)

The Google Gemini conspiracy theory
(DBN)

Welcome to the Era of BadGPTs
(DBN)

US SEC Probing Whether OpenAI Investors Got Misled
(DBN)

____________

Healthcare:

Alabama Senate, House propose bills to protect IVF providers Frozen embryos shouldn't be considered people, two-thirds of Americans say
(DBN)

GAO: Billions wasted on federal health insurance program
(DBN)

Older adults should get another COVID shot this spring, CDC advisers say
(DBN)

How a $1 billion gift could transform a Bronx medical school
(DBN)

A former US surgeon general went to the ER for dehydration and ended up with a $5,000 bill. He called healthcare a 'broken system.'
(DBN)

Medicare Advantage is bad for patients and bad for investors
(DBN)

Health care quality took a big hit during COVID, Medicare report finds
(DBN)

Patient died after nurse replaced his fentanyl drip with non-sterile tap water: Lawsuit
(DBN)

Mother who refused to let 13-year-old daughter have cancer surgery is headed to jail
(DBN)

____________

Movie Theaters:

Regal Cinemas’ Post-Bankruptcy Plan Revealed By CEO
(DBN)

AMC Theater Chain’s Profit Falls Short of Estimates, Shares Drop
(DBN)

____________

Non-Profits:

Center for Public Integrity Weighs Merger or Shutdown Amid Dire Financial Straits
(DBN)

____________

Labor:

Starbucks’ Surprise Labor Pivot Could Spur a New Unionization Wave
(DBN)

Teamsters, Anheuser-Busch reach tentative deal to avoid strike
(DBN)

____________

Education:

Jewish students feel ‘unsafe' after UC Berkeley Gaza protest turns violent
(DBN)

____________

Food/Beverage:

Ultra-processed food linked to 32 harmful effects to health, review finds
(DBN)

____________

Utilities:

Buffett puts $1 trln grid problem in a bad light
(DBN)

____________

Fraud:

Judge calls for Richmond's Michael Hild to pay $46M in restitution
(DBN)

____________

Footwear:

Unlimited Footwear Group falls into bankruptcy
(DBN)

____________

Motorcycles:

CEO Espen Digernes acquires bankrupt Swedish e-motorbike manufacturer Cake
(DBN)

____________

Trucking:

First Yellow Trucks and Trailers Up for Auction March 5
(DBN)

____________

Tax:

Silicon Valley Bank's Multibillion-Dollar Tax Battle in Bankruptcy Court
(DBN)

____________

Media:

News outlets are collapsing as advertisers flock to social media platforms. It has major implications for society Social media companies are soaking up the billions in advertising dollars that once flowed to legacy media companies
(DBN)

Shane Smith and the Final Collapse of Vice News
(DBN)

____________

 


New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (19 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (1 new filing today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Sales:

Joining Other Circuits, the Fifth Circuit Reverses Lower Court and Approves Sale of Preferential Transfer Claims to Non-Fiduciaries
(DBN)

____________

Aviation:

Brazilian airline Gol gets court approval for $1 billion bankruptcy loan
(DBN)

Reviving Go First won’t be easy. Here’s why NCLT defers Go First insolvency decision, awaits high court order
(DBN)

FAA gives Boeing 90 days to develop plan to address ‘systemic quality-control issues’
(DBN)

Justice Department Looking Into Boeing Door Plug Blowout
(DBN)

____________

Politics:

McConnell will step down as the Senate Republican leader in November after a record run in the job See McConnell’s speech on Senate floor after announcement Waning McConnell Is Last GOP Bulwark Against Trump Isolationism Gaetz: ‘We’ve now 86’d McCarthy, McDaniel, McConnell’ McConnell's exit haunted by poisonous relationship with Trump How Mitch McConnell lost by winning McConnell replacement race kicks off earlier than expected Mitch McConnell’s time in the Senate will be remembered as sad and cynical The insider's guide to the McConnell succession race Trump looms large in McConnell successor race McConnell’s Exit Sets Up Trump-Fueled Fight for Republican Party Trump's last step toward a total MAGA Republican party McConnell lasted longer than most. But he couldn’t outlast Trump McConnell departure leaves GOP’s Reagan wing reeling
(DBN)

Senate Republicans Will Do Anything to Protect IVF. Anything. Except Allow the Bill Protecting IVF to Pass Senate Republican Blocks Bill to Protect I.V.F. Treatment Hyde-Smith blocks Senate vote on federal IVF protections Biden campaign torches Trump after GOP blocks IVF bill
(DBN)

Trump to the Rescue—of What?
(DBN)

Biden Is Too Old But Trump Is Dangerous, Swing-State Poll Shows
(DBN)

Joe 'fit for duty,' physician says after physical
(DBN)

GOP strained by Trump-influenced shift from Reagan on Russia
(DBN)

Old Leaders Run the World—and They’re Not Going Anywhere
(DBN)

ABC News president: Trump comments about Black people ‘as racist as they come’
(DBN)

Arab American Fury Toward Biden
(DBN)

Two top leaders in US House share deep Christian faith. Yet there’s vast gap in how they wield it
(DBN)

Over 100,000 voters rejected Biden and chose 'uncommitted' in Michigan. Here's how that stacks up against recent Democratic primaries ‘Uncommitted’ Campaign in Michigan Shatters Expectations Against Biden Biden faces tough choices after Michigan backlash The numbers that explain the messy Michigan primary results
(DBN)

Democrats Fail to Get Traction in Must-Win Pennsylvania Even as Economy Improves
(DBN)

Lauren Boebert's teen son arrested after Colorado crime spree
(DBN)

GOP governors face pressure campaign to feed kids in the summer
(DBN)

Do 1 in 5 Americans really believe Taylor Swift is in cahoots with Biden?
(DBN)

52 countries saw "severe" declines in freedom last year, report finds
(DBN)

____________

Insurance:

Vesttoo case: Settlement agreement closer, as creditors and JPL’s near compromise
(DBN)

____________

Climate:

Wildfire grows into 2nd-largest in Texas history as flames menace multiple small towns Hazardous wildfire smoke wafts across Texas See what the second-largest fire in the history of Texas looks like Gov. Abbott issues disaster declaration for all Texas Panhandle counties amid wildfires 500,000 acres - with flames spreading at rate of 150 football fields every minute Flames menace multiple small towns as Texas wildfire grows Sierra Nevada braces for up to 12 feet of snow from "potent" California storm
(DBN)

"Insane": Historic winter heat wave smashes records across U.S.
(DBN)

This chart of ocean temperatures should really scare you
(DBN)

Humanity Is Dangerously Pushing Its Ability to Tolerate Heat
(DBN)

Winter heat waves are now a thing. Here’s how to make sense of them What’s happening to our winters?
(DBN)

Exxon CEO blames public for failure to fix climate change
(DBN)

Florida Republicans’ war on the war on heat
(DBN)

What is in the US SEC's proposed rule on climate reporting?
(DBN)

____________

Skiing:

At a mountain resort with no real snow, skiing faces a total wipe-out
(DBN)

____________

Switzerland:

Zurich is trying to claw back $200 million after accidentally paying city employees double their salaries
(DBN)

____________

UK:

‘We’re all busy again’, say UK restructuring experts - FT
(DBN)

Businesswoman Staveley seeks to throw out $46 million bankruptcy claim
(DBN)

Britain has the most ‘fragile firms’ in Europe, with 15% of small and medium businesses at risk of default, Allianz says
(DBN)

UK Towns Are Going Bankrupt. Here’s What’s Gone Wrong What does happen when councils go bankrupt? Here's how six local authorities have gone bust since 2021 - with many more on the precipice of disaster 'Bankrupt' city council selling more properties including cafe site to raise cash Woking council offered massive £785m lifeline from Government in major rescue deal Havering: Cash-strapped London council gets £54million Government loan to avert bankruptcy Nearly one in 10 English councils expect to go bust in next year, survey finds Councils warn of drastic cuts to bins, roads and leisure services ahead of Budget Charities fear ‘doom spiral’ of council budget cuts Nottingham: 'Bankrupt' council will not sell historic sites - leader An insider’s view of a council in financial straits
(DBN)

Post Office Scandal: Bankrupt, divorced, home gone, life ruined and now aged 81 I get compensation but it's too little too late
(DBN)

____________

Russia:

Seeking to Unsettle Russia, Macron Provokes Allies
(DBN)

Ukraine Sees Risk of Russia Breaking Through Defenses by Summer
(DBN)

Pentagon mulls tapping into its last $4 billion of Ukraine funding to support the country as Congress stalls
(DBN)

Leaked files reveal Russian military's criteria for nuclear strike Putin Warns NATO of Risk of Nuclear Confrontation Over Ukraine
(DBN)

Navalny’s widow fears ‘bloody mobster’ Putin will carry out purge at funeral Wife of opposition leader Navalny says his body was abused after death; funeral to be held Friday Navalny widow: Putin ‘must answer for what he has done’
(DBN)

Putin Needs to Feel the Pain
(DBN)

Leaders should consider using frozen Russian assets to aid Ukraine’s military: EU’s von der Leyen
(DBN)

Divisions Among Finance Ministers Flare Over Seizing Russian Assets US and Europe at Odds on Tapping $280 Billion of Russian Assets
(DBN)

Russia’s resilience to sanctions shows it is ‘costly and unattainable’ to isolate a large and globally integrated economy, economist says
(DBN)

Russia Considering Intervention in European Region
(DBN)

____________

MENA:

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?
(DBN)

How a destroyed warehouse revealed a deadly Israeli attack
(DBN)

With Gaza Facing ‘Famine,’ Cease-Fire Remains Elusive One in Four Gazans Are Now ‘One Step Away’ From Famine, UN Says Food aid reaches north Gaza for first time in weeks U.S. weighs airdropping aid into Gaza as land deliveries slow
(DBN)

Muslim Holy Month Looms as Flashpoint in Fight Between Israel and Hamas
(DBN)

'Lebanon will be next': Iran greenlights Hezbollah attack on Israel - report
(DBN)

____________

China:

The Creditor Trying To Push China’s Largest Developer Into Bankruptcy
(DBN)

____________

Argentina:

Argentina’s $18 Billion Chinese FX Line Eyed for US Judgment
(DBN)

____________

Japan:

Japan had fewest babies ever recorded last year
(DBN)


____________

Sweden:

Sweden’s GDP Unexpectedly Shrinks for Third Consecutive Quarter
(DBN)

____________

Australia:

ASIC gets orders to bankrupt the ‘ASX Wolf’
(DBN)

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