January 18, 2024

The Daily Bankruptcy News

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Law:

Contract requiring exiting lawyer to pay fee for every client he takes can’t be enforced, top state court says
(DBN)

Legal use of GenAI tools is massively error-prone, Stanford researchers say
(DBN)

Troutman Pepper Sued by Black Associate Alleging Bias, Reprisal
(DBN)

BigLaw firm concluded partner’s email to Black associate wasn’t racist because ‘he treated other people terribly too,’ suit alleges
(DBN)

JD-Next should be backup to traditional entrance requirements, says ABA consultant
(DBN)

Law firms want their lawyers to be more commercially aware, research finds
(DBN)

How sales perceives legal’s speed on contracts
(DBN)

Legal teams advised to review outside counsel staffing
(DBN)

40% of GCs expect to increase outside counsel spending
(DBN)

Who Are The 10 Highest-Paid General Counsel?
(DBN)

Baker McKenzie Poaches Eversheds’ Houston Energy Litigation Team
(DBN)

To be a lawyer or a doctor? That is the question
(DBN)

Former lawyer gets prison time for trading representation for sexual acts and materials
(DBN)

Lawyers Should Keep Emails Short And Sweet
(DBN)

Probate lawyer says he’s out of money and trying to withdraw from cases of 800-plus clients
(DBN)

Minnesota Lawyer Gets Suspended License As Retirement Gift
(DBN)

Checkmate: BigLaw associate seeks chess master status
(DBN)

Trump Mar-a-Lago evidence request highlights defense strategy targeting Biden admin, Intel community
(DBN)

E. Jean Carroll judge bench-slaps Trump's attorney 14 times over basic lawyering in a single day of testimony Trump's 'ill will' attacks on Carroll could make his new damages much worse: experts Trump's muttering 'in the presence of the jury' riles judge in defamation case Trump goes to face rape accuser with strange red marks on his hand Former President Donald Trump's mysterious red hands spark hilarious online conspiracy theories - from ketchup to curling iron burns We asked a dermatologist about the mystery marks on Trump's hands. Here's what he said. Trump says ‘I would love it’ after judge threatens to boot him from trial Trump Threatened With Expulsion From Defamation Trial by Judge
(DBN)

Why Trump is likely to have more leeway for outbursts in criminal trials
(DBN)

Mitt Romney Rips ‘Out of Touch With Reality’ Voters Who Don’t Care a Jury Found ‘Trump Raped a Woman’
(DBN)

Trump threatens to interject himself into Jeffrey Clark disciplinary proceedings
(DBN)

Proud Boy Gets 5 Years for Jan. 6 Riot
(DBN)

'Politically motivated operatives': Trump rips Jack Smith for 'investigation misconduct'
(DBN)

Donald Trump's Legal Team Decides Not To Ask Permission OR Forgiveness
(DBN)

'None of us wanted to work with him': Trump lawyer dishes dirt on attorney who left team
(DBN)

Donald Trump's Nonsensical Lawsuits Are Giving People The False Impression That Legal Fees Are Commonly Awarded
(DBN)

Maine Judge Stays Trump Ballot Ban Until Supreme Court Rules
(DBN)

Bill Barr's law firm adds Pat Cipollone, other Trump veterans
(DBN)

Hunter Biden laptop saga revived by Biden's Justice Department
(DBN)

NC Lt. Governor: Ban abortion without exceptions!
(DBN)

Johnson: Now is not ‘the time for comprehensive immigration reform’ 'Why are you laughing?' GOP lawmaker flips out on witness during tense hearing US, Mexico to Hold Cabinet-Level Migration Talks in DC on Friday Texas river border buoys to stay in place while 5th Circuit rehears case JPMorgan CEO Calls Out 'Super Liberal' Friends Over Border Funding deadlock threatens to make the border crisis worse Texas AG defies Biden administration's border access demand Senate Republicans warn House they won't get a better immigration deal under Trump Congressional leaders meet at White House as optimism on an immigration deal grows Trump Moves to Quash Hopes of Ukraine-Border Deal in Congress What branch of government is ‘really’ responsible for the crisis at the border?
(DBN)

SWAT Raids Wrong Ohio House, Sends 1-Year-Old to the Hospital
(DBN)

Long-awaited DOJ report on Uvalde mass shooting to be released Thursday
(DBN)

Man finds cellphone in Walmart bathroom, calls in bomb threat with it, police say
(DBN)

Neighbor allegedly hears 'prolonged thud' of woman dragging husband's dead body down road
(DBN)

Ex-Army officer allegedly killed 2 neighbors, dog after calling for a 'final solution'
(DBN)

Cops frantically hunt for suspected NYC serial stabber as five knifed in unprovoked attacks across city
(DBN)

Missouri man imprisoned for 27 years on wrongful conviction sues St. Louis and police
(DBN)

The Cops Are Watching You
(DBN)

______________

Judges:

Trump Hit Judge Cannon Up For Another Favor In Florida Docs Case
(DBN)

'Integrity': An Interview With Judge Pauline Newman
(DBN)

How to Fix the Supreme Court
(DBN)

______________

Wall Street:

Stock market today: US futures steady; dollar, bitcoin hold recent gains
(DBN)

US stocks fall as strong retail sales further dim outlook for swift Fed rate cuts
(DBN)

Investors are overlooking global threats - and either a Trump or Biden election win could hit markets, hedge fund titan Ray Dalio says
(DBN)

JPMorgan CEO Jamie Dimon says we shouldn't assume everything is 'hunky-dory' as rising stocks are like a drug
(DBN)

S&P 500 Wobble Pushes ‘Fear Gauge’ to Highest Since November
(DBN)

______________

Layoffs:

Companies that use AI to replace workers will ultimately lose, Stanford University professor says
(DBN)

Pro-DeSantis super PAC lays off staff after second-place finish in Iowa
(DBN)

Lonza plots more than 200 layoffs
(DBN)

Google CEO says more layoffs are coming soon
(DBN)

YouTube Cuts 100 Employees as Tech Layoffs Continue
(DBN)

Bayer Agrees With Worker Groups to Cut Many Management Jobs
(DBN)

Shell Begins Hundreds of Job Cuts in Push to Boost Performance
(DBN)

Big Four giant EY to cut UK legal roles
(DBN)

______________

Banking:

Big banks to pay $9 billion tab to cover last year’s bailouts
(DBN)

US Proposes New Rule to End High Overdraft Fees in Crack Down
(DBN)

____________

Tax:

A Pandemic-Era Tax Break Is Unraveling, and the Lawsuits Are Flying
(DBN)

____________

Politics:

Debt-ridden Michigan GOP seeks to sell headquarters to pay $500K loan currently in default
(DBN)

The House's suspended majority
(DBN)

House Democrats weigh Mike Johnson's fate as discord roils GOP
(DBN)

Trump, Haley tied in New Hampshire poll Trump leads Haley by 16 points in New Hampshire, poll shows Donald Trump Has Meltdown Over Nikki Haley Donald Trump goes off on Nikki Haley in racially charged rant ahead of ex-SC gov’s ‘must-win’ NH primary Why New Hampshire Thinks It’s Smarter Than Iowa Shake-Up by a Desperate DeSantis Opens Wider Path for Haley in New Hampshire New Hampshire Republicans disappointed Nikki Haley isn't fighting harder in the state
(DBN)

Dimon: Democrats should ‘grow up,’ listen to Trump supporters
(DBN)

Mike Johnson Acknowledges Biden's Presidency Is 'God's Will'
(DBN)

'Trump’s lies are now what defines the party': conservative
(DBN)

Trump’s Show of Force in Iowa Signals Broader Weakness
(DBN)

Trump blowback hits House Freedom Caucus chair Bob Good Trump's GOP revenge tour
(DBN)

Trump: NBC, CNN should have 'licenses or whatever' pulled for not airing Iowa speech
(DBN)

'We all have concerns': Hill Dems see flawed Biden campaign
(DBN)

Assassination attempts are on the rise worldwide — is the US next?
(DBN)

South Carolina Republican Jeff Duncan says he’ll retire from House Who isn't running for re-election in the House and Senate in 2024
(DBN)

Multicultural Americans to become majority population by 2050: Report
(DBN)

Democrats flip Florida state House seat in special election
(DBN)

These voters will pick the next president. They’re frightened about American democracy.
(DBN)

‘I’m Scared As Heck!’ Kamala Harris Tells Joy Behar How She Plans to Run Against ‘The Crazies’
(DBN)

GOP backtracks on Mayorkas impeachment appearance, demanding written testimony
(DBN)

Texas Independence Switches to Plan B—'Bare-Knuckles Brawling'
(DBN)

Advance of the far-right is the ‘biggest concern’ for Western democracies: Spain’s PM
(DBN)

Neo-Nazi With Felony Convictions Cleared to Remain on GOP Ballot
(DBN)

____________


Economy:

The American Dream is 'rapidly diminishing,' Walgreens boss says in plea to raise taxes for the wealthy
(DBN)

Industrial Production Increased 0.1% in December
(DBN)

Mega-rich renew call on global leaders at Davos to ‘tax our extreme wealth’
(DBN)

US debt could face a buyer 'boycott' if fiscal policy isn't cleaned up, Standard Chartered CEO says
(DBN)

Household Survey Shows Reported and Expected Household Spending Growth Continue to Moderate
(DBN)

Fed's Beige Book: "Little or no change in economic activity" Fed’s Beige Book Shows Strong Consumer, Cooling Labor Market
(DBN)

Jamie Dimon Warns on US Economy for '24, '25
(DBN)

Bond Traders Pare Odds of Fed Rate Cut in March to Coin Toss
(DBN)

Why central bankers are skittish about early interest rate cuts
(DBN)

Bankers at Davos Add to Chorus of Caution on Interest Rate Cuts
(DBN)

Fed Pressing Higher-for-Now Against Market’s Lower-and-Sooner
(DBN)

Elon Musk, Jeff Bezos, and the world's richest men got $465 billion richer in 4 years
(DBN)

Now hiring: ‘New-collar’ workers, no degree necessary
(DBN)

‘Western world is in danger’: Argentina’s Milei urges Davos to reject socialism
(DBN)

Old Guy at PwC Wants Young People In the Office Because Something Something AI
(DBN)

Biden and Johnson Meet to Break Impasse Over Border, Ukraine Johnson Digs In Against Border Deal to Unlock Ukraine Aid, Defying Biden
(DBN)

Yellen Urges Congress to Pass Bipartisan Spending Agreement
(DBN)

America's new-business hotspots, mapped
(DBN)

How the United States' Minimum Wage Compares
(DBN)

‘I Am Just Waiting to Die’: Social Security Clawbacks Drive Some Into Homelessness
(DBN)

Talk show host Joy Behar dismisses claims that Gen Z is 'left behind' by the economy and tells them to 'get a job'
(DBN)

The tightest local labor markets
(DBN)

Which Countries Have the Highest GDP Growth Rate?
(DBN)

America’s Most Valuable Company Every Year Since 1995
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

NAHB: Builder Confidence Increased in January Homebuilder sentiment improves for second straight month US Homebuilder Sentiment Increases by Most in Nearly a Year
(DBN)

MBA: Mortgage Applications Increased in Weekly Survey
(DBN)

Lawler: Early Read on Existing Home Sales in December
(DBN)

Signa Development Starts Insolvency Plan of Steady Asset Sales
(DBN)

Cantor Fitzgerald CEO warns of 'generational shift' in real estate market, '$1 trillion in defaults coming'
(DBN)

RMF estate, now ‘out of money,’ seeks conversion to Chapter 7 bankruptcy
(DBN)

Latitude Five25 tenants to receive $1.5 million after judge signs settlement
(DBN)

Airbnb reveals new panel to address housing affordability crisis
(DBN)

Blackstone’s defaulted NYC office tower loan up for sale at a 50% discount
(DBN)

____________

Oil/Gas:

The US extends the license that protects Citgo from its creditors
(DBN)

Peak oil theories have been around since the 1880s, and the latest warnings also won't come to pass, OPEC chief says
(DBN)

Biden urged to use obscure law to thwart Pacific Northwest pipeline expansion
(DBN)

Some Automakers Still Pushing Hydrogen Future
(DBN)

____________

Tech:

Altman says ChatGPT will have to evolve in “uncomfortable” ways
(DBN)

How AI can solve a lot of small business challenges
(DBN)

UN chief calls for global risk management of AI, warns of ‘serious unintended consequences’
(DBN)

Generative AI dominates Davos discussions as companies focus on accuracy
(DBN)

Apple again banned from selling watches in U.S. with blood oxygen sensor
(DBN)

____________

Healthcare:

New cancer diagnoses expected to hit record high this year
(DBN)

UMMC hospital leader sentenced to 21 months in prison, ordered to pay $11M in conspiracy case
(DBN)

____________

Autos:

Chinese EV automaker BYD will spend $14 billion developing smart car features that rival Tesla
(DBN)

Tesla's place in the 'Magnificent Seven' is at risk as Elon Musk's EV maker sheds $90 billion in valuation in a rough start to 2024
(DBN)

A $60-Plus Billion Pay Package? Musk Gives Tesla’s Board a Nightmare Task
(DBN)

Tesla slashes car prices across Europe after similar cuts in China
(DBN)

Remotely Driven Car Startup Launches Service in Las Vegas
(DBN)

____________

Crypto:

Debt Tokens
(DBN)

Winklevoss’ crypto exchange Gemini gets nod to launch in France amid clash with U.S. regulators
(DBN)

Core Scientific to emerge from bankruptcy, fully repay creditors
(DBN)

FTX Bahamas: ‘Best deal to avoid asset extinction’
(DBN)

Coinbase Argues Crypto Is Like Beanie Babies in SEC Case Hearing
(DBN)

____________

Education:

Comeback college: How Morris Brown kept its doors open
(DBN)

The Bachelor's Degrees That Really Pay Off
(DBN)

Why Is Paying for College So Complicated?
(DBN)

U.S. appeals court blocks Texas law that could ban or restrict library books
(DBN)

Florida Republicans eye ban on pride flags in schools, government buildings
(DBN)

Florida public colleges barred from using state and federal funds for DEI programs
(DBN)

Biden administration unveils plan to halt declining student test scores
(DBN)

____________

Retailing:

Retail Sales Increased 0.6% in December Holiday sales climb, boosting retailer hopes for uncertain 2024 Strong US retail sales underscore economy's momentum heading into 2024
(DBN)

Qurate Retail: Solvency Risks Subside, Commercial Concerns Remain
(DBN)

____________

Climate:

Melting Greenland Has Lost 1 Trillion Tons More Ice Than Thought
(DBN)

Kerry Says US Election Will Have Major Impact on Global Climate Fight
(DBN)

How Hot Was It Last Year?
(DBN)

____________

Sports:

Diamond Sports unveils Amazon investment, restructuring pact to exit bankruptcy Diamond Sports in deal to emerge from bankruptcy, signs Amazon streaming pact
(DBN)

____________

Weight Loss:

United States of Ozempic: Where prescriptions for anti-obesity drugs are rising
(DBN)

____________

Bankruptcy Crimes:

Huntington Man Pleads Guilty to Making False Declaration in Bankruptcy Case
(DBN)

____________

Insurance:

How Location Intelligence Can Minimize Bankruptcy In The P&C Sector
(DBN)

____________

Private Equity:

Global private equity deal activity plunges in 2023
(DBN)

Portco bankruptcies surged in 2023
(DBN)

____________

Fraud:

How Walmart’s Financial Services Became a Fraud Magnet
(DBN)

___________

 


New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (13 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

SCOTUS:

Supreme Court case could limit executive power on climate, energy Supreme Court signals openness to curtailing federal regulatory power in potentially major shift Conservative justices seem poised to weaken power of federal agencies
(DBN)

____________

Prepacks:

The Beauty of Belk’s Sixteen-Hour Bankruptcy Case
(DBN)

____________

Mass Torts:

Alex Jones Disputes Details of Creditor Bankruptcy Plan Outline
(DBN)

A Discharge Lesson Courtesy of the Worst Person in the World
(DBN)

Malpractice plaintiffs seek to end prison health co. bankruptcy
(DBN)

____________

Professional Compensation:

BK NV: 2023 Professional Fees Report
(DBN)

____________

Aviation:

Failed JetBlue takeover could force Spirit to slash fares, restructure as carrier grasps for a path JetBlue dodged a bullet after judge blocked Spirit acquisition, J.P. Morgan says
(DBN)

Analyst: Major U.S. airline likely to file bankruptcy and liquidate
(DBN)

With merger scuttled, South Florida-based Spirit Airlines faces an uncertain future. Is bankruptcy a possibility? JetBlue’s $3.8 Billion Spirit Deal Is Turning Into a Nightmare
(DBN)

Keeping Spirit Airlines Cheap for Flyers Threatens to Kill It Altogether
(DBN)

Alaska-Hawaiian Deal Doubts Mount After JetBlue-Spirit Blocked
(DBN)

Creditors Nod For Fresh Bids For Go First
(DBN)

Jet Airways rescue plan unworkable, say lenders
(DBN)

ARJ21 Operator Genghis Khan Airlines Enters Bankruptcy
(DBN)

Boeing Makes Progress With 737 Ungrounding After First Checks
(DBN)

Japan ANA plane turns back to Tokyo after man bites flight attendant
(DBN)

Which Airlines are Ordering the Most Commercial Jets?
(DBN)

____________

Student Debt:

How to figure out your timeline to student loan forgiveness
(DBN)

____________

Sovereigns:

Ghana Wins Debt Moratorium Until 2026 From Official Creditors
(DBN)

Mozambique Pays $142 Million to End Credit Suisse Loan Dispute
(DBN)

____________

UK:

Are UK universities at risk of bankruptcy?
(DBN)

Member reappointed to the Insolvency Rules Committee
(DBN)

Council tax funneled into gold-plated pensions as services crumble
(DBN)

Council to apply for £15m loan to avoid bankruptcy
(DBN)

Nottinghamshire County Council rules out declaring bankruptcy and makes cuts pledge
(DBN)

Birmingham City Council announces hundreds of job redundancies Brum considers axing 600 jobs
(DBN)

Coventry council tax rates could stay higher than 'bankrupt' Birmingham
(DBN)

Traders See Fewer BOE Interest-Rate Cuts as Inflation Quickens
(DBN)

Thousands are being targeted by harsh HMRC tax-collecting scheme linked to 10 suicides
(DBN)

UK mortgage, credit card default rates jump in run-up to Christmas
(DBN)

Northern Ireland's economy 'stuck in low growth'
(DBN)

____________

EU:

EU court rules gender-based violence ground for asylum
(DBN)

EU Leaders are in Deep Panic Over Trump Win
(DBN)

ECB Officials Converge Around June to Start Cutting Rates
(DBN)

European real estate M&A hits 13-year low in 2023
(DBN)

____________

Canada:

Alleged Ponzi Scheme Involving Greg Martel Leaves Investors With Over $312M in Losses
(DBN)

____________

China:

China's economy is faltering on multiple fronts
(DBN)

Dreary Economic Data Suggests Struggles Ahead for China
(DBN)

Luxury’s Rebound Is Proving Elusive as China Gloom Adds to Warnings
(DBN)

China sees one of its worst years of growth since 1990 as recovery stalls
(DBN)

What China’s Falling Population Means for Its Future
(DBN)

Dimon Says China Risk-Reward Equation Has ‘Changed Dramatically’
(DBN)

China's ageing population threatens switch to new economic growth model
(DBN)

____________

Romania:

Romania’s air defence company Romaero enters insolvency
(DBN)

____________

MENA:

U.S. re-designates Houthis as foreign terrorist organization What to know about Yemen's Houthi rebels and the Red Sea conflict Red Sea crisis could last a year with Houthi attacks ‘just increasing’: Experts Third Commercial Ship in a Week Struck by a Drone Near Yemen ‘Hot Houthi pirate’ tells followers to focus on ‘a free Palestine’, not his good looks Suez Canal Traffic Drops to Lowest Since 2021 Blockage US Unleashes More Yemen Strikes as Houthi Ship Attacks Continue
(DBN)

Hamas, Inc.: The Property Empire That Funded Militant Attack on Israel Hamas took my son’s head into Gaza and put it up for sale EU Set to Hit Hamas With Sanctions Next Week Over Israel Attack
(DBN)

Israel's central bank estimates spending to fight Hamas will be about 10% of GDP
(DBN)

Israel’s ban on Palestinian workers is causing supply shocks to its economy: Central bank governor
(DBN)

‘Unprovoked violation’: Iran strikes Syria, Iraq and Pakistan as Middle East tensions spike Pakistan warns of 'consequences' after Iran's deadly bombing killed two children Iran Says Missile Strikes Show It Will Be ‘Tough and Decisive’ With Foes Pakistan Launches Retaliatory Strike on Iran Why Iran and Pakistan are striking each other's territory
(DBN)

____________

Germany:

'Nazis, no thank you'; Germans take to streets to call for AfD ban
(DBN)

Arnold Schwarzenegger facing criminal proceedings in Germany over luxury watch
(DBN)

____________

Russia:

Biden to meet with Speaker Johnson, Sen. Schumer on Ukraine, Israel aid
(DBN)

Russia mocks British efforts to support Ukraine; Blinken warns of ‘real problem’ if Kyiv gets no extra funding
(DBN)

Skeptical of sending more US aid to Ukraine? Here's what Zelenskyy has to say to you.
(DBN)

No risk of default for holders of Russian bonds in case of confiscation
(DBN)

Russia has burned through almost half of the liquid reserves in its national wealth fund as it bleeds money amid the war in Ukraine
(DBN)

Putin is starting to talk tough about the Baltics, laying the groundwork for 'future escalations' with NATO: ISW
(DBN)

____________

India:

Annual IBC Compendium: January - December 2023
(DBN)

Enforcement of Employment Contracts under the IBC
(DBN)

IBC needs further changes for resolution of biz conglomerates
(DBN)

Insolvency professionals can be crucial in resolution process
(DBN)

A Deep Dive into 2023's Insolvency Regime- Part 1 of 5 A Deep Dive into 2023's Insolvency Regime- Part 2 of 5
(DBN)

India step up efforts to extradite former head of United Breweries Vijay Mallya
(DBN)

____________

Hong Kong:

Exclusive jurisdiction clauses in Hong Kong insolvency proceedings
(DBN)

Lenders 'must be urged to go easy on repayments'
(DBN)

____________

Luxembourg:

The first decision opening Judicial Reorganization Proceedings under the new Luxembourg Insolvency Law
(DBN)

____________

Japan:

Half of Japan firms look at restructuring to boost performance
(DBN)

____________

Czech Republic:

Czech Republic’s New Act on Preventive Restructuring: Game-Changer in Creditor-Debtor Relationships
(DBN)

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