February 6, 2024

The Daily Bankruptcy News

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Law:

Legal sector loses 4,400 jobs in January after reaching employment high-water mark in December Legal Sector Lost 4K+ Jobs In January, But There's No Need To Worry
(DBN)

The new world is here for the legal industry… are you ready or not?
(DBN)

Profits Per Partner Saw Notable Increase Last Year
(DBN)

Proskauer settles with ex-COO accused of stealing sensitive information before new job
(DBN)

Dechert will pay millions of dollars to settle ‘hack-for-hire’ allegations stemming from ex-partner’s work
(DBN)

An Atlanta attorney was sentenced to life in prison for killing his wife after a weekend getaway. Now he may soon be released
(DBN)

Supreme Court refuses to stop West Point’s race-conscious admissions policy Supreme Court Tells Blum Group To Fight West Point On Their Own
(DBN)

Harvard Law School To Offer Free Tuition To Some Incoming Law Students
(DBN)

ABA Vote Requires Law Schools to Prohibit Disruptive Protests
(DBN)

A Lawyer Explains How He Beat Elon Musk A Tesla lawyer burst into tears during a deposition on Elon Musk's compensation package because he admired Musk so much, judge says
(DBN)

Miami city attorney investigated by Florida Bar over ties to alleged house-flipping scheme
(DBN)

Lawyer Gets Shamed After Allegedly Rushing A Phish Stage In The Nude
(DBN)

Artificial Intelligence Prompts And When The Source Of The Error Is NOT Between The Keyboard And The Chair
(DBN)

Sexual Harassment Allegations Pile Up At Annual Legal Tech Conference
(DBN)

'New way of cheating!' Trump rages against legal woes in all-caps late-night rant
(DBN)

Texas Abortion Ban Lawyer to Argue Trump Ballot High Court Case
(DBN)

US Silence on Trump Ballot Battle Signals Caution Over Election Supreme Court to decide whether insurrection provision keeps Trump off ballot How using the 14th Amendment against Trump went from a ‘pipe-dream fantasy’ to the Supreme Court What Happens if Trump is Kicked Off the Ballot?
(DBN)

Trump has 'some explaining to do' about missing millions of dollars: legal analyst
(DBN)

'This is a lot': Tapper and Haberman discuss Trump's legal woes
(DBN)

Shouldn't A President Be Able To Follow Obviously Correct Advice?
(DBN)

Trump could soon face over $400 million in legal penalties. Can he afford it?
(DBN)

Mar-a-Lago judge orders Trump to present his defense theory in documents case
(DBN)

What happens next in Trump’s Georgia election-interference case?
(DBN)

Trump lawsuits: Some get delayed. Some prove costly.
(DBN)

We Need To Be In 'Freakout' Mode Over The Trump Election Case
(DBN)

Trump heads to US Supreme Court with a familiar claim: he is untouchable
(DBN)

Judge Cannon sets separate secret hearings to confer with Trump attorneys and Jack Smith
(DBN)

'No Diet Coke': Prison expert paints grim future for jailed Trump
(DBN)

Judge Chutkan says Trump trial might come after Republican convention
(DBN)

California ammunition background check law can remain in effect, court rules
(DBN)

Mom threatens to shoot alleged rapist in groin, forces him to hand over evidence: Cops
(DBN)

Mother on 'stay-cation' sexually abused teenage hockey players visiting same hotel: Cops
(DBN)

Grandfather killed during bus ride by a 13-year-old after 'verbal exchange': Cops
(DBN)

Man killed his own grandfather then ran over deputy during high-speed chase: Sheriff
(DBN)

'I've had better days': Man allegedly attacked by wife, daughter with frying pan and knife
(DBN)

Angry over alleged theft of his Taco Bell, man beats 72-year-old roommate to death: DA
(DBN)

Good Samaritan gets stabbed, car stolen by stranger he was trying to help: Police
(DBN)

A Chicago Latino was exonerated after spending 25 years in prison for murder
(DBN)

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Judges:

Vacancy - Bankruptcy Judgeship - District of New Jersey
(DBN)

Ethics Complaint Spotlights Judges’ Courtroom Advocacy Policies
(DBN)

SCOTUS conservatives given 'taste of their own medicine' in new brief
(DBN)

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Wall Street:

S&P 500 futures are little changed after Wall Street pulls back from record levels
(DBN)

The stock market just did something for the first time since 1987 - and it's a sign the rally is unsustainable, top economist David Rosenberg says
(DBN)

KKR Profit Beats Estimates on Record Fees, Insurance Strength
(DBN)

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Layoffs:

Snap to lay off 10% of global workforce, around 500 employees
(DBN)

Finance Layoffs Watch ’24-‘25: Deutsche Bank
(DBN)

Attorney Mikal Watts Resigns, Shuts Down Puerto Rico Office, Lays Off 50
(DBN)

Virgin Money Says More Cuts to Come After Eliminating 150 Jobs
(DBN)

Estee Lauder to cut jobs on skittish China demand; shares surge 19%
(DBN)

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Personal Finance:

‘The only thing I owed every month were utilities’: Woman who owned house, had $500K in bank says she’s now contemplating bankruptcy
(DBN)

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Labor:

Lufthansa Ground Crew Strike Leaves 100,000 Facing Disruptions
(DBN)

Boeing Labor Strife Poses Next Big Risk to Plane Production
(DBN)

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Insurance:

Year in Review: 2023 Key Management and Professional Liability Insurance Coverage Decisions
(DBN)

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Climate:

What Lawyers Can Do to Step Up for the Climate and Add Clients
(DBN)

Storm slams downtown Los Angeles with 75% of its annual rainfall More than 35 million are under flood threat in Southern California Map of California Flood Regions
(DBN)

Should there be a Category 6 for hurricanes? These climate scientists say yes
(DBN)

Earth May Have Already Passed 1.5 C Degrees
(DBN)

15,000 Year Old Viruses Found in Melting Ice
(DBN)

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Economy:

ISM® Services Index Increases to 53.4% in January
(DBN)

Companies are issuing tons of debt to pay their private equity owners and their investors
(DBN)

Why Are Companies Sitting on Cash Right Now?
(DBN)

Why a booming US job market is bad news for homebuyers
(DBN)

How to fix our broken offices: Bring back the cubicle!
(DBN)

Car insurance rates jump 26% across the U.S. in 2024, report shows
(DBN)

Why did shareholder liability disappear?
(DBN)

Liquidity Tops Trader Concerns for Volatile 2024, JPMorgan Finds
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

WeWork considers new bankruptcy loan due to slow progress on rent negotiations WeWork Landlords, Creditors Fret Over Restructuring Efforts Adam Neumann wants to buy struggling WeWork out of bankruptcy
(DBN)

Housing February 5th Weekly Update: Inventory Down 1.2% Week-over-week, Up 8.7% Year-over-year
(DBN)

Lawler: Update on Mortgage Rates and Spreads
(DBN)

Manhattan Office Leasing Drops 40% in January
(DBN)

Retirement home residents face losing some or all entrance fees as Bartlett facility struggles to pay debts
(DBN)

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Oil/Gas:

More automakers are being forced to rethink their EV plans
(DBN)

Oil oversupply is keeping prices low, but the situation is about to flip, Occidental CEO says
(DBN)

EU Sours on Middle Eastern Crude Oil
(DBN)

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Tech:

Musk's Conduct Under Scrutiny In FTC Privacy Probe Of X
(DBN)

Citi Says US Tech Stocks Face Risk of Big Selloff on Positioning
(DBN)

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Crypto:

Crypto miners used the same amount of electricity as all of Australia last year
(DBN)

Multicoin Capital Is in Talks to Sell Roughly $100M FTX Bankruptcy Claim: Source
(DBN)

DCG says Genesis bankruptcy plan overpays customer claims
(DBN)

The Trial Over Bitcoin’s True Creator Is in Session
(DBN)

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Water:

The Push to Privatize America's Water Systems
(DBN)

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Fraud:

Man sentenced in fraud scheme, posed as Marcus Smart, NFL exec
(DBN)

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Politics:

Haley’s voters might decide Biden’s fate in November. Here’s why Haley goes after Trump and Biden as ‘grumpy old men’ while courting older voters in South Carolina Haley Asks for Secret Service Protection Haley FactCheck: If Texas says, “‘We don’t want to be part of America anymore’ … that’s their decision to make.”
(DBN)

Biden’s age and fitness top the list of voters’ concerns, poll finds
(DBN)

'Vindicated': Kristi Noem must apologize and pay $300,000 to transgender advocacy group
(DBN)

'She's a joke': Ex-aides trash 'delusional' Nancy Mace after entire staff bails on her
(DBN)

Lawmaker counters abortion ban with castration law
(DBN)

Why a 91-year-old Colorado Republican said 'hell yes' to taking Trump to the Supreme Court
(DBN)

Trump and his allies should've loved this border deal Bipartisan border deal on brink of defeat ahead of key Senate vote A colossal failure, decades in the making House Speaker: Immigration Bill is DOA Senate Republicans threaten to block border security bill they negotiated As conservatives balk, U.S. Border Patrol union endorses Senate immigration deal
(DBN)

House Republicans to hold a vote to impeach DHS Secretary Alejandro Mayorkas
(DBN)

Pro-Biden super PAC set to spend up to $40M amplifying Trump's legal woes
(DBN)

'That's tyranny': Liz Cheney wrecks GOP senator who pushed rejecting election results
(DBN)

O'Keefe, Project Veritas Settle Fake Voter Claims
(DBN)

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Pharma:

Medicare now negotiating price of drug that costs $7,100 in US vs. $900 in Canada
(DBN)

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Banking:

Fed SLOOS Survey: Banks reported Tighter Standards, Weaker Demand for almost All Loan Types
(DBN)

UBS to cut another $3 billion in costs as it absorbs Credit Suisse UBS to Sell Billions More AT1 Bonds in Coming Years UBS to Restart Buybacks This Year as It Integrates Credit Suisse
(DBN)

US appeals court to weigh fate of US$12 billion bank collusion case
(DBN)

Commercial real estate a 'manageable' problem but some banks will close: Powell
(DBN)

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Education:

How the Supreme Court affirmative action decision is affecting college applicants. ‘The barriers are already so high,’ one legal expert says
(DBN)

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Trucking:

After Seattle startup Convoy fails, drivers wait for pay and answers
(DBN)

Bankrupt trucker Yellow repays $700 million Covid loan, Teamsters blast ‘failed executives’
(DBN)

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Autos:

Hertz halts plan to buy 65,000 electric cars amid EV slump
(DBN)

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Student Debt:

The Real Student Loan Crisis Isn't From Undergraduate Degrees
(DBN)

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Furniture:

Ruby Gordon holds 'Chapter 11 Bankruptcy Liquidation Sale'
(DBN)

Which are The RoomPlace’s top 20 unsecured creditors?
(DBN)

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Food/Beverage:

Beer bankruptcy apocalypse claims another fan-favorite brand
(DBN)


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Coal:

Justice Creditors Agree To Sale Of Coal Company’s Helicopter
(DBN)

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New Bankruptcy Opinions
(7 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 (5 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Subchapter V Bankruptcy Filings Keep Rising as States Beyond Florida Get on Board
(DBN)

Chapter 11 Bankruptcy Filings Increase 22% Y/Y in January, Subchapter V Filings Up 43%
(DBN)

Business bankruptcies surged 58% in 2023
(DBN)

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Mass Torts:

Abuse of Public Nuisance Tort Litigation Is the Real Nuisance
(DBN)

Bayer Loses Roundup Appeal in Blow to Efforts to End Litigation
(DBN)

Is It OK to Mediate A Mass Tort Bankruptcy Plan Without Including Insurers Who Must Provide Plan Payments? (In re Imerys & Cyprus)
(DBN)

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Intercreditor:

Lenders Seek to Avoid Creditor Violence
(DBN)

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Professional Compensation:

Big Law Bankruptcy Fees Reach $2,500 an Hour for Top Lawyers
(DBN)

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Property of the Estate:

Owned: Second Circuit Holds that Traditional Principles of Property Law Apply to Social Media Accounts
(DBN)

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Aviation:

Boeing Workers Demand 40% Pay Raise, Escalating Production Risks
(DBN)

Boeing Finds Even More Problems with the 737
(DBN)

FAA Vows to Hold Boeing Accountable as Chief Heads to Congress
(DBN)

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Healthcare:

Financial Challenges Push Medical Test Maker Invitae Towards Bankruptcy
(DBN)

Cano Health files for bankruptcy, receives $150-million financing commitment Cano Health: Common Shareholders Likely To Be Wiped Out In Bankruptcy Medicare Advantage Warning: Cano Health’s Bankruptcy Signals Shift in Private Medicare Profitability
(DBN)

GoFundMe Is a Health-Care Utility Now
(DBN)

GOP Plans to Privatize Medicare if Trump Wins
(DBN)

Anti-Vax Movement Downplays Measles' Return
(DBN)

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Sovereigns:

Zambia says no timeline on debt restructuring as IMF seeks compromise
(DBN)

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UK:

Arrival Names EY as Administrator for Two UK Units EV startup Arrival looks to sell off assets, intellectual property of UK division British EV maker, once valued at $13 billion, has gone into bankruptcy protection without making any sales—after getting kicked out of Nasdaq
(DBN)

The high-profile failure of a $3.7B aircraft carrier shows how Britain is struggling to keep up with first-rate militaries
(DBN)

Medway requests emergency £14.6m loan Medway Council to ask government for exceptional financial support Derbyshire County Council plans 4.99% tax rise and service cuts Council 'disappointed' as tax rise proposals are rejected Dover Council at risk of bankruptcy over food import checks
(DBN)

Everything you need to know about the Post Office Horizon scandal
(DBN)

EY warning: Higher interest rates could cost UK firms £25bn over next three years
(DBN)

Property developer behind Preston’s old Post Office hotel The Shankly declared bankrupt
(DBN)

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EU:

The Weil European Distress Index
(DBN)

Europe’s solar industry facing “existential threat”, manufacturers say
(DBN)

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Canada:

Record surge in insolvencies a 'problematic' sign of small-business closures
(DBN)

Largest Residential Real Estate Owner in Ontario Files for Creditor Protection
(DBN)

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Russia:

Global powers have a plan to use $250 billion in frozen Russian funds to help rebuild Ukraine
(DBN)

How jet ski drones sunk a Russian ship
(DBN)

Putin's 'long term investment' in Trump is about to pay off: Financial Times columnist
(DBN)

US Sanctions Halt Delivery of New Vessels to Russian LNG Plant
(DBN)

Living in Shadow of Putin’s Russia Feeds Fear on NATO’s Border
(DBN)

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China:

The US Treasury will reportedly send officials to China to smooth out economic tensions between the superpowers
(DBN)

How a U.S. Embassy post about giraffes became an outlet for despair about China’s tumbling stock markets
(DBN)

Analysis Claims China Hiding True Economic Growth Data
(DBN)

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MENA:

Where is Hind? Calls for answers more than a week after rescuers go missing trying to save trapped 6-year-old
(DBN)

Biden threatens veto of House GOP’s standalone Israel aid bill
(DBN)

Japan Trading Giant Cuts Ties with Israel's IDF
(DBN)

Iran goes public with stark warning over suspected spy ship as U.S. refuses to rule out more strikes
(DBN)

For U.S. carrier pilots, a vexing mission hunting down Houthi missiles and drones
(DBN)

Israel Warns Time for Diplomacy With Hezbollah Is Running Out
(DBN)

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South Korea:

A South Korean firm is offering to pay its workers $75,000 each time they have a baby
(DBN)

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Hong Kong:

Fugitive former Hong Kong lawmaker Ted Hui declared bankrupt for failure to pay legal fees before fleeing
(DBN)

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Cayman Islands:

Cayman Islands’ Court Confirms Restructuring Officer Regime May Be Utilised In Relation To Discrete Portfolios Of SPC.
(DBN)

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Brazil:

Unigel to File for Bankruptcy Protection Amid Stalled Creditor Negotiations
(DBN)

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India:

Quandary Of Dissenting Financial Creditors Having Security Interest: Perhaps Supreme Court's Larger Bench To Guide Dissenting Financial Creditors
(DBN)

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