January 10, 2024

The Daily Bankruptcy News

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Law:

Legal jobs hit all-time high in December, preliminary figures show
(DBN)

Women Exceed 50% of Law Firm Associates for First Time
(DBN)

6 in-house legal trends to watch in 2024
(DBN)

Top Restructuring Partners Are Earning More Than $2,400 Per Hour, as Rates Continue to Climb
(DBN)

Winston & Strawn Copied Brief Leads to Boundary-Testing IP Suit
(DBN)

Pace of Law Firm Office Leasing Picked Up in Late 2023, With More Firms Shedding Space
(DBN)

Stanford Law gets third dean in four months
(DBN)

Is A Biglaw Firm Pulling A Bait And Switch On Associate Bonuses?
(DBN)

Genova Burns Promotes Bankruptcy Counsel Scott Rever to Partner
(DBN)

Law School Applicant Pool Is Most Diverse In History, Despite SCOTUS Affirmative Action Ban
(DBN)

US firms dominate M&A work as deals slump to decade low
(DBN)

Paralegals’ suit claims First Amendment right to offer legal advice on court forms
(DBN)

Witness Coaching Leads To Dismissal With Prejudice
(DBN)

Tax Crime Draws Bar Charges
(DBN)

U.S. News Law School Rankings Prediction Sees Very Big Changes At The Top
(DBN)

Would Jim Harbaugh's Turnaround Skills Work For CEOs — And Law School Deans?
(DBN)

Trump's lawyer argues that a president can order SEAL Team Six to assassinate his political rival if Congress is cool with it Trump Lawyers Magical Immunity Arguments Take A Real World Beating At DC Circuit "It's paradoxical": Judges voice skepticism at Trump lawyer's immunity claims Judges skeptical of Trump arguments for broad criminal immunity Judge Uses Trump's Own Words Against Him in Immunity Hearing With Trump present in court, judges express skepticism of claims that he’s immune from prosecution Takeaways from hearing on Trump’s immunity claims
(DBN)

Trump warns of 'bedlam' if prosecutions against him continue
(DBN)

Judge rejects Trump 14th Amendment claim in Nevada by GOP political competitor GOP effort to impeach official who removed Trump from Maine ballot voted down
(DBN)

Trump Made Some Ludicrous Legal Arguments About Staying on the Colorado Ballot
(DBN)

Trump intends to deliver part of closing himself, say sources
(DBN)

Trump: Georgia case ‘totally compromised’ after allegations against Fani Willis Trump Prosecutor Had Improper Relationship, Co-Defendant Says Fani Willis Faces Being Disqualified From Donald Trump Case
(DBN)

The coming Trump constitutional crisis — and how to avoid it
(DBN)

Ty Cobb says former president poses ‘gravest threat to democracy we’ve ever seen’
(DBN)

Where the legal debate stands on whether Trump can pardon himself
(DBN)

Donald Trump Provides Another Headache for Supreme Court
(DBN)

Who is Nathan Wade, Fulton special prosecutor in Trump case?
(DBN)

Republican Former Members of Congress: Courts Should Move ‘As Quickly As Possible’ to Resolve Trump Cases
(DBN)

Ray Epps, subject of Jan. 6 conspiracy theories, sentenced to one year probation
(DBN)

Georgia court weighs voting machines at heart of Trump election fraud claims
(DBN)

Jeffrey Epstein victim Sarah Ransome doubles down on Prince Andrew, Richard Branson & Bill Clinton ‘sex tape’ claim
(DBN)

Woman Struck Father, 73, Over Beeping Sound Made By His Oxygen Machine
(DBN)

A new immigration policy that avoids a dangerous journey is working. But border crossings continue Sen. Johnson slams border talks as 'negotiating with the arsonist'
(DBN)

Black man who spent 44 years in prison before he was exonerated gets record $25M settlement
(DBN)

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Judges:

BK WD NC: Bankruptcy Judge Announcement
(DBN)

The Hon. Thomas L. Ambro Fellowship Summer Scholarship
(DBN)

The Hon. Harlin DeWayne “Cooter” Hale Summer Fellowship
(DBN)

As Threats Against the Judiciary Mount, a Former Federal Judge Calls on Bar Associations for Coordinated Response
(DBN)

AOC: Clarence Thomas should recuse himself from Trump immunity case
(DBN)

In (Stalled) Camera
(DBN)

Defendant Strapped Into Hannibal Lecter Mask After Attacking Judge
(DBN)

A Wisconsin Supreme Court justice says 'we're going to lose this battle' for democracy to 'a bunch of insurrectionists' if public officials don't speak out about the threats they've received
(DBN)

Fantastic New Children's Book About Ruth Bader Ginsburg Is Out Today
(DBN)

US Senate confirms Texas' Kazen as 1st new federal judge of 2024
(DBN)

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Wall Street:

Stock futures move lower overnight
(DBN)

The S&P 500 might leap 10% to a record high this year - but plunging interest rates could spell trouble for stocks, Wharton professor Jeremy Siegel says
(DBN)

US stocks drop as Treasury yields and oil prices rebound
(DBN)

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Layoffs:

Rent the Runway to Cut About 10% of Corporate Jobs, Lose Operating Chief
(DBN)

Amazon’s Twitch to Cut 500 Employees, About 35% of Staff
(DBN)

BlackRock cuts 3% of global staff (600 jobs), citing industry changes
(DBN)

Streaming platform Twitch to lay off 35% of staff
(DBN)

The full list of major US companies slashing staff this year, from Nike to BlackRock
(DBN)

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Awards:

2023 Accolades
(DBN)

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Food/Beverage:

Restaurant Performance Index rose 0.5% in November
(DBN)

From 'Bad Vegan' to mass restaurant closures — inside Matthew Kenney's crumbling raw food empire
(DBN)

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Healthcare:

Bankrupt California hospital has 3 potential buyers
(DBN)

Athersys files for bankruptcy, sells assets to Healios in wake of stroke cell therapy’s struggles
(DBN)

States are limiting gender-affirming care for adults, too
(DBN)

Americans overwhelmingly favor health care price transparency: survey
(DBN)

Biden administration rescinds much of Trump ‘conscience’ rule for health workers
(DBN)

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Tech:

Missing 'Fauci Files' Raises Questions for Elon Musk
(DBN)

'Free speech absolutist' Elon Musk explains his decision to ban Hamas' X account: 'This was a tough call'
(DBN)

X Purges Prominent Journalists, Leftists With No Explanation Elon Musk Under Fire After X Apparently Purges Popular Left-Wing Critics: ‘Taking Off the Free Speech Mask’
(DBN)

Tech CEO Accused of Murdering 4-Year-Old Son and Stuffing Him in Travel Bag
(DBN)

SEC X account 'compromised' leading to fake Bitcoin announcement SEC’s account compromise was ‘not due to any breach of X’s systems,’ company says
(DBN)

AI Threatens to Push Human Fashion Models Out of the Picture
(DBN)

World Chip Sales Return to Growth in Sign of Improving Demand
(DBN)

Thousands of Software Engineers Say the Job Market Is Getting Much Worse
(DBN)

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Mail:

Side hustles won’t save the US Postal Service
(DBN)

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Education:

Bill Ackman, rarely inclined to back down, escalates his fight against America’s most prestigious universities Bill Ackman’s latest fight turns personal, again
(DBN)

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Defaults:

High-yield default rate increases, spreads narrow
(DBN)

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Student Debt:

Biden admin withholds payments to student loan servicers over billing issues
(DBN)

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Corporate Governance:

CEOs Are Making Millions While Laying Off Thousands Of Workers And Filing For Bankruptcy
(DBN)

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Economy:

Why are Americans so displeased with the economy?
(DBN)

Fitch: ‘Rising headwinds’ are rushing toward consumers in 2024
(DBN)

JPMorgan CEO Dimon ‘skeptical’ of ‘Goldilocks’ economic scenario US economy starting to look 'more like the 1970s,' JPMorgan Chase's Jamie Dimon says
(DBN)

Where Will the Global Economy Land in 2024?
(DBN)

Fed is 'not completely done' fighting inflation: Gary Cohn
(DBN)

"A sorry record:" World Bank warns of miserable decade World Bank Sees ‘Wretched’ Run for Post-Pandemic Global Growth
(DBN)

How different generations accumulate wealth
(DBN)

US small business sentiment up, but labor, inflation worries persist
(DBN)

US Inflation Is Set to Fade in 2024 as Goods Prices Keep Falling
(DBN)

Americans' inflation expectations are getting back to normal
(DBN)

Inflation Expectations Decline Across All Horizons
(DBN)

Don't count on the Fed slashing rates given the inflation 'rollercoaster' risk, warns BlackRock
(DBN)

Despite 'Dr. Doom' reputation, Nouriel Roubini thinks the global economy will avoid a worst-case scenario
(DBN)

Trade Deficit decreased to $63.2 Billion in November US Trade Deficit Unexpectedly Narrows as Services Surplus Rises
(DBN)

Biden slams Trump for ‘revealing twisted true colors,’ hoping the economy crashes in 2024 Pelosi on Trump hoping economy crashes in 2024: ‘Doesn’t know what that means to America’s working’ ‘He doesn’t give a damn about people:’ Biden campaign hits Trump comments on economy crashing
(DBN)

They paid hundreds to train for a 'job of the future.' Now they're struggling to find a gig.
(DBN)

Immigration is driving the nation's modest post-pandemic population growth, new census data shows
(DBN)

Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners
(DBN)

Top House conservatives see little hope in upcoming spending fight Senate GOP offers House Republicans reality check on spending Speaker Johnson defends spending deal to unhappy conference Schumer praises Johnson after spending deal: ‘Decent, respectful guy’ McConnell: Stopgap Spending Bill Needed
(DBN)

Executives say they're still committed to DEI, new survey finds
(DBN)

"You are a liar": Musk vs. Cuban DEI debate takes new turn
(DBN)

Colorado Congresswoman Lauren Boebert's ex-husband arrested, facing charges
(DBN)

Fake News Danger Becomes Top Davos Worry in Year of Elections
(DBN)

10 Worst US States to Raise a Family
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Charted: Office vacancies hit a new record high
(DBN)

Americans Sound Alarm About Not Being Able to Pay Rent Nearly one out of four US renters have trouble paying each month -- with millennials, Gen Z hit the hardest
(DBN)

Americans see cheaper mortgage rates ahead as expectations flip for the first time ever in Fannie Mae's latest survey
(DBN)

The value of the housing market in America's largest metros has surged to $23 trillion
(DBN)

Zillow predicts these are the hottest real estate markets of 2024
(DBN)

CoreLogic: US Home Prices Increased 5.2% Year-over-year in November
(DBN)

Chinese Billionaire Is Second-Biggest Foreign Owner of US Land
(DBN)

Home Prices in Detroit Are Rising Even Faster Than in Miami
(DBN)

Owner of Mixed-Use Property in Manhattan Files for Bankruptcy
(DBN)

Signa founder paid two-thirds of 3 million euro guarantee -insolvency admin
(DBN)

'The impacts are real': New satellite images show East Coast sinking faster than we thought
(DBN)

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Municipalities:

Once-Bankrupt Jefferson County Tests Muni-Bond Market With Mega Deal
(DBN)

CA wealth tax to get first hearing amid big state budget problem
(DBN)

State lawmakers say so long to all that federal cash
(DBN)

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Politics:

Violent political threats surge as 2024 begins, haunting American democracy
(DBN)

Biden and Trump Evenly Matched in U.S. Favorable Ratings
(DBN)

Chip Roy on Johnson ouster: ‘That’s not the road I prefer’ Greene decries idea of dumping Johnson: ‘I’m kind of sick of the chaos,’ not here for ‘clickbait’
(DBN)

Mike Pence’s brother is latest Republican retiring from Congress
(DBN)

Haley looks to defy expectations in Iowa Haley closing in on NH win? Judge Judy endorses Nikki Haley: ‘I truly think she can restore America’ Trump turns ire on Haley as she builds momentum Haley’s got the momentum — as well as the spotlight, expectations and pitfalls that come with it Why Haley Won’t Break Through
(DBN)

Defiant, emotional Menendez says he received ‘absolutely nothing’ from Qatar
(DBN)

GOP witness in Biden probe says Mayorkas conduct not impeachable Joe Biden Impeachment Escalates
(DBN)

Pizzagate, QAnon and the ‘Epstein List’: Why the Far Right Is Obsessed with Sex Trafficking
(DBN)

The Danger of Trump’s Bogus “Summary of Election Fraud”
(DBN)

Poll: Trump thumping Biden in Michigan — but losing to Whitmer
(DBN)

Kari Lake Is Losing Her Fundraising Battle in Arizona
(DBN)

Democratic Senate Armed Services chair calls for more information on Austin’s absence Austin leaves intensive care amid growing scrutiny of Pentagon secrecy Austin's hospitalization due to complications from prostate cancer treatment Biden in dark over defense chief's cancer for month! Secrecy surrounding the defense secretary’s hospitalization has put the White House on the defensive White House orders Cabinet protocols review after Lloyd Austin's secret hospitalization ‘Reckless and irresponsible’: Pentagon officials reel from news Austin kept cancer diagnosis quiet
(DBN)

Chip Roy: Constituents say ‘shut down border or shut down government’
(DBN)

Oh Great, We've Reached The Swatting Stage Of Election Denial
(DBN)

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Media:

BuzzFeed’s ‘Dire’ Debt Problem
(DBN)

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Sports:

MLB rejects Amazon’s $150,000,000 attempt to save Diamond Sports from bankruptcy amid struggle with baseball coverage Bally Sports Bankruptcy case delayed again MLB, Bally Sports Push Bankruptcy Hearing Back as Negotiations Over Twins, Others Heat Up MLB broadcast landscape hangs in the balance as Diamond Sports' bankruptcy hearing faces delay
(DBN)

Former Liverpool star Emile Heskey 'hit with bankruptcy petition'
(DBN)

NFL offers buyouts to more than 200 employees
(DBN)

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Religion:

Secret synagogue tunnels are causing chaos in New York. What’s really going on? Wild riot breaks out in NYC synagogue over secret tunnel: Orthodox Jews are dragged away in cuffs
(DBN)

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Maritime:

US Navy shoots down barrage of Houthi missiles and drones launched from Yemen over Red Sea, US says
(DBN)

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Newspapers:

Los Angeles Times editor's departure shows that billionaires — still — have a hard time figuring out how to save newspapers
(DBN)

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Crypto:

Celsius Aims for Investors Who Withdrew More than $100 K Before Bankruptcy to Return the Money Celsius initiates recovery of large pre-bankruptcy withdrawals Celsius Demands 27.5% Back from Large Pre-Bankruptcy Withdrawals Celsius creditors who withdrew 90 days before bankruptcy are asked to send money back
(DBN)

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Autos:

Securities and Exchange Commission files $45M claim against Lordstown Motors
(DBN)

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Banking:

SVB Financial plans to hand VC business to creditors
(DBN)

The Fed Launched a Bank Rescue Program Last Year. Now, Banks Are Gaming It.
(DBN)

Fed’s Top Bank Watchdog Faces Rare Internal Pushback on Capital Plan
(DBN)

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Biotech:

Biotech Gets Creative to Avoid Bankruptcy in 2024
(DBN)

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New Bankruptcy Opinions
(1 new opinion today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (3 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

US bankruptcies hit 13-year peak in 2023; 50 new filings in December
(DBN)

2023 was a worse year for corporate bankruptcies than 2020—and the highest since the GFC—after a stunning 72% surge, S&P Global finds
(DBN)

Repeat Chapter 11 Filers Dominate 2023 Bankruptcy Landscape
(DBN)

‘Chapter 22': Why Some Companies Are Filing for Bankruptcy Twice
(DBN)

BK WD NY: Updated Caseload Data - Month Ending December 2023
(DBN)

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Bankruptcy Rules:

Proposed Amendments to Federal Bankruptcy Rules and Forms
(DBN)

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Avoidance Actions:

DE Supreme Court: Creditors’ Fraudulent Transfer Claims Are Direct, Not Derivative
(DBN)

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UST:

Notice of Vacancy - Region 6 United States Trustee (ED TX and ND TX)
(DBN)

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SCOTUS:

US Supreme Court justices balk at $326 mln bankruptcy fee refund demand No Perfect Solution: Justices' Own Bankruptcy Ruling Creates $326M Problem
(DBN)

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Mass Torts:

2023 Bankruptcy Shocker: Third Circuit Lauding Disparate Results For Similarly Situated Claimants
(DBN)

Maryland AG defends Child Victims Act in constitutional challenge by Catholic Archdiocese of Washington
(DBN)

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Aviation:

Boeing CEO acknowledges ‘mistake’ related to terrifying Alaska Airlines flight ‘Every detail matters:’ Boeing CEO admits mistake as investigators probe midair panel blowout Boeing 737 Max 9 planes face more delays in flying again
(DBN)

Should JetBlue Declare Bankruptcy?
(DBN)

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Utilities:

Lower court gave PREPA bondholders too much: Oversight Board
(DBN)

Power companies paid civil rights leaders in the US south. They became loyal industry advocates
(DBN)

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Retailing:

Rite Aid receives approval from bankruptcy court to sell subsidiary Rite Aid gets court approval for $575 million Elixir sale
(DBN)

Why companies like Amazon, Walmart, and Target will let you keep some products you want to return — but issue you a refund anyway
(DBN)

Adobe: Online holiday spending hits record-breaking $222 billion
(DBN)

7 retail trends to watch in 2024
(DBN)

‘You make customers feel like criminals’, shoppers fume as Morrisons unleashes ‘robocop’ cameras in supermarket aisles
(DBN)

Brick-Filled Boxes. Bogus Receipts. Retailers Battle Fraudulent Returns.
(DBN)

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Climate:

Global temperatures neared the critical 1.5-degree warming limit last year ‘It’s a scary time’ as world shatters temperature record
(DBN)

Wind Turbines Beat Gas Plants to Grab Record Share of UK Power
(DBN)

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Advertising:

Ad market finally begins to stabilize
(DBN)

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Ride Hailing:

Sacramento jumps into California’s robotaxi wars
(DBN)

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Radio:

Audacy Will Keep The Lights On During Bankruptcy, Thanks To Court OK Of First Day Motions Audacy Shares Tumble 47% Following Bankruptcy Filing
(DBN)

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Fraud:

Why Disney World is America’s greatest law enforcement tool
(DBN)

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Sovereigns:

We are 'optimistic' Ghana will clinch deal with bilateral creditors – IMF
(DBN)

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UK:

Mishcon de Reya strengthens Insolvency practice with Partner hire from Norton
(DBN)

UK Minister Urges Councils to Drain Reserves to Avert Bankruptcy
(DBN)

Warrington Council not heading towards ‘effective bankruptcy’
(DBN)

Stoke-on-Trent council warns of ‘radical cuts’
(DBN)

Council seeks tax rise of up to 21% over two years
(DBN)

Nobody wants to work in Britain’s cold, crumbling parliament
(DBN)

Britain’s worst miscarriage of justice sparks outrage at last Post Office scandal: Jailed Devon woman 'had to leave children' 'It's a shame it took a million people to cripple her conscience' Post Office scandal: Woman from Cornwall 'destroyed' by accusations We have seen heroes emerge from the Post Office scandal. Now focus on the villains Will Mellor says ex Post Office boss Paula Vennells handing back CBE is 'just the first step'
(DBN)

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EU:

Euro-Zone Economy May Continue to Struggle, Guindos Says
(DBN)

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Canada:

How Justin Trudeau lost his grip
(DBN)

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MENA:

Hezbollah launches drone attack on northern Israel IDF base
(DBN)

German FM: Suffering of Palestinians ‘cannot go on’
(DBN)

Antony Blinken tells Israel: Palestinian rights are key to peace
(DBN)

Saudi Arabia interested in Israel normalization deal after war
(DBN)

Video appears to show the Israeli army shot 3 Palestinians, killing 1, without provocation
(DBN)

Israel taps top legal minds, including a Holocaust survivor, to battle genocide claim at world court
(DBN)

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Italy:

Outcry over neo-fascist salute engulfs Italy’s Meloni
(DBN)

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Germany:

Germany's last major department store chain files for bankruptcy protection for the third time
(DBN)

German construction sector faces major slump in 2024
(DBN)

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France:

Gabriel Attal becomes France’s youngest and first openly gay prime minister
(DBN)

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China:

China Aoyuan’s $6 Billion Debt Plan Jolted by Creditor Dissent
(DBN)

China Credit Woes Ease as Firms Draw Up Debt Repayment Plans
(DBN)

Is China’s consumption story over? Here’s what experts are saying
(DBN)

Bad news, Beijing: Real-estate booms like the one in China nearly always end with a major banking crisis
(DBN)

China Says Ex-PBOC Official Took ‘Massive’ Bribes to Help Firms
(DBN)

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Cuba:

Cubans Fear Worsening Inflation As Fuel Price To Soar 500 Percent
(DBN)

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Ecuador:

Ecuador erupts in 'civil war' with cartel thugs Armed men storm an Ecuador TV studio during a live broadcast as attacks in the country escalate Ecuador declares ‘internal armed conflict’
(DBN)

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Russia:

Russia’s fabled war ally 'General Frost' turns on Moscow
(DBN)

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