January 19, 2024

The Daily Bankruptcy News

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Law:

Paul Weiss Goes Dark On Compensation
(DBN)

How To Keep Biglaw Partners Happy? Keep Them In The Dark When It Comes To Their Money...
(DBN)

California Bar Approves Fewer July Exam Locations to Save Funds
(DBN)

Ex-Dentons lawyer banned from law for rubbing colleague's thighs
(DBN)

South Square grows its ADR service with international arbitrator and mediator James Peck
(DBN)

Kramer Levin Names Leaders of Distressed Investing Practice
(DBN)

Biglaw Firm Launches Takeover Of Successful Litigation Boutique To Open New Texas Outpost
(DBN)

Firm's rebrand 'hurts people's eyes'
(DBN)

Is BigLaw mostly liberal? SCOTUS amicus briefs indicate answer is yes, especially in significant cases
(DBN)

Woman posed as attorney, fraudulently represented couples divorcing and adopting: Cops
(DBN)

Met that law school application deadline? You might be too late, AccessLex study finds
(DBN)

Law firm installs a slide in its office
(DBN)

Former Associate Hits Biglaw Firm With Racial Discrimination Case After 'Dehumanizing' Email
(DBN)

'Going Down Very Fast': Ex-Davis Polk Managing Partner Recounts Cardwell's Career Path in Retaliation Trial
(DBN)

The Defiant One: This Lawyer Is Building a Robust Practice to Overturn DE&I
(DBN)

Ex-White House lawyer Ty Cobb weighs in on E. Jean Carroll trial: ‘This is Trump at his worst’
(DBN)

Judge in Trump Georgia case orders hearing on Fani Willis misconduct accusations Fulton DA Fani Willis alleges wife of special prosecutor is interfering in Trump case
(DBN)

Judge rejects Trump bid to hold Jack Smith in contempt in election case Judge limits new filings in Trump Jan. 6 case but denied bid to hold special counsel in contempt
(DBN)

Alex Jones Wades In on Donald Trump's Red-Spotted Hands
(DBN)

'Very eager' Trump warned by judge he could be tossed from courtroom for outbursts
(DBN)

Nearly 200 congressional Republicans urge SCOTUS to keep Trump on the ballot 56 percent in new poll willing to see Trump disqualified from ballots in all or some states Trump urges Supreme Court to rule on Colorado ballot eligibility
(DBN)

DOJ seeks prison term for former Trump aide Peter Navarro Prosecutors Seek 6-Month Prison Term for Peter Navarro in Contempt Case
(DBN)

Donald Trump's Lawyer Keeps Botching Basic Trial Procedure -- Don't Grow Up To Be Alina Thank You, Alina! — xoxo, Very Online Lawyers Alina Habba Being Unfairly 'Nitpicked' After Court Clashes —Attorney
(DBN)

Supreme Court urged to keep sanctions for Trump allies Powell, Wood
(DBN)

Trump warns of ‘years of trauma’ if presidents don’t have ‘total immunity’
(DBN)

Jan. 6 rioter wants to delay sentence to 'fun' prison and remain in 'filthy' jail Feds seek prison for chili-loving woman and brother who marched with Proud Boys on Jan. 6
(DBN)

Jan. 6 Cannot Go Down the Memory Hole
(DBN)

Judge Chutkan Declines To Sanction Special Counsel For Aggravated Filing Stuff
(DBN)

Fact Check: Trump Once Stated that a Candidate Under Federal Investigation 'Has No Right To Be Running.'
(DBN)

Rudy Giuliani’s Personal Bankruptcy Is Off to Contentious Start Rudy Giuliani Accused of Using Bankruptcy Filing to Stiff the Election Workers He Owes $148 Million Georgia election workers accuse Rudy Giuliani of taking advantage of bankruptcy system Election workers slam Rudy Giuliani for suddenly wanting to fight defamation case
(DBN)

Hunter Biden to sit for Feb. 28 deposition with House Republicans Hunter Biden accused of 'truly bizarre theory' in motion to drop Giuliani laptop lawsuit
(DBN)

Judge rules arrest of elected official during public meeting violated First Amendment
(DBN)

Texas, US in legal standoff as state refuses to comply with directive on border access 14 Dems vote with GOP as House condemns Biden handling of southern border Johnson feels heat from Trump, conservatives to reject Senate border deal Trump takes on McConnell, Senate GOP on border package
(DBN)

DOJ’s Uvalde report finds systemic failures in school shooting response DOJ report says police response to Uvalde mass shooting was a "failure" US Justice Dept to release report on Uvalde school shooting response
(DBN)

Warren says abortion will be on the ballot in 2024
(DBN)

‘Swatting’ targets all sides, raising fears
(DBN)

Pennsylvania cannot bar adults under 21 from carrying guns, court rules
(DBN)

Teen allegedly 'over-killed' dad, shooting him 31 times in front of other family members
(DBN)

Teacher caught poisoning husband's smoothies on secret surveillance cameras: Police
(DBN)

Driver sentenced in racist road rage attack that started with turn signal dispute
(DBN)

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Judges:

John Roberts and Amy Coney Barrett are unsure if they should be in charge of everything
(DBN)

Ouster recommended for town justice accused of making ‘salacious jokes,’ identifying himself as judge in gas-station dispute
(DBN)

Judicial Conference Probes Ethical Breaches Of Unnamed Judge... But It's Almost Certainly Clarence Thomas Clarence Thomas has no business deciding whether Trump stays on the ballot
(DBN)

Remember That New Supreme Court Ethics Code? Sam Alito Doesn't.
(DBN)

Muslim federal appellate court judge pick moves forward as senators spar over accusations of Islamaphobia
(DBN)

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Wall Street:

U.S. stock futures higher, with S&P 500 eyeing fresh record and tech set to lead gains Dow futures edge higher ahead of housing data, more earnings
(DBN)

US stocks trade mixed as surprise drop in jobless claims sends bond yields higher
(DBN)

The $8.8 Trillion Cash Pile That Has Stock-Market Bulls Salivating
(DBN)

Why one of Wall Street's biggest bulls says investors should brace for a 7% drop in the stock market
(DBN)

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Layoffs:

Why constant job cuts could be the new normal for Big Tech
(DBN)

Amazon’s latest layoffs hit its Buy with Prime unit
(DBN)

LA Times Guild Calls Emergency Meeting as Layoffs Loom: ‘This Is the Big One’ LA Times staff plans walkout ahead of steep job cuts
(DBN)

"AI made us do it" is Big Tech's new layoff rationale
(DBN)

American Electric Power to lay off 270
(DBN)

Wayfair shares surge after home goods retailer announces 1,650 job cuts, 13% of workforce
(DBN)

Citizens trimmed 650 jobs in Q4
(DBN)

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Education:

Why Americans Have Lost Faith in the Value of College
(DBN)

Citing book vendors’ First Amendment rights, 5th Circuit blocks sexual-content rating requirement
(DBN)

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Autos:

EVs work fine in the cold in Norway. Here’s how they do it
(DBN)

Teslas crash more than gas-powered cars. Here’s why
(DBN)

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Banking:

Bank That Made $50 Billion Last Year Pays $18 Million For Making Clients It Paid A Few Thousand Dollars Keep Schtum
(DBN)

NY City Seeks Millions From Failed Silicon Valley Bank for Taxes
(DBN)

Jamie Dimon Joins the Trump Normalizers
(DBN)

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Financial Reporting:

What Troubled Company Fiduciaries Need to Know About the Corporate Transparency Act – Sooner Rather Than Later
(DBN)

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Healthcare:

Long Island Midwife Gave Pellets Instead of Vaccines to 1,500 Children
(DBN)

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Agribusiness:

California Farms Dried Up a River for Months. Nobody Stopped Them.
(DBN)

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Economy:

Weekly jobless claims post lowest reading since September 2022 Weekly Initial Unemployment Claims Decrease to 187,000
(DBN)

Davos Sees Global Economy Settling Into Strange New Dynamic
(DBN)

Why Trump supporters give him a pass on record-high unemployment
(DBN)

Americans Are Finally Feeling Better About the Economy
(DBN)

Fed’s Raphael Bostic expects rate cuts to happen in the third quarter
(DBN)

National debt is the greatest threat to our country; it’s time for Congress to act
(DBN)

Avoiding a US debt crisis is ‘economically easy,’ but politics stands in the way of urgent reform, research firm says
(DBN)

Top economist Steve Hanke says stocks will drop, a recession will hit, and inflation will sink below 2% this year
(DBN)

Inflation at 3% isn't the problem — it's the expectation that interest rates will soon fall, asset manager says
(DBN)

Citi now expects first Federal Reserve interest rate cut in June
(DBN)

U.S. executives in Davos see a Trump victory in 2024, and no cause for concern
(DBN)

Senate, House race to avert government shutdown ahead of winter storm Senate votes to hold off government shutdown until March Congress Passes Bill Keeping Government Open as Border, Spending Fights Rage Conservatives pitch last-minute border amendment on bill to avert shutdown Government shutdown could disrupt upcoming tax season, IRS commissioner says
(DBN)

Gen Z says they have it harder than their parents did — the economy is to blame
(DBN)

LA Port Inbound Traffic Increased Year-over-year in December
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Most people buying homes get screwed into spending thousands on a tedious fee. That may be about to change.
(DBN)

Realtor.com Reports Active Inventory UP 7.9% YoY; New Listings up 7.0% YoY
(DBN)

Housing Starts Decreased to 1.460 million Annual Rate in December
(DBN)

Single Family Starts Up Year-over-year in December; Near Record Number of Multi-Family Housing Units Under Construction
(DBN)

4th Look at Local Housing Markets in December; California Home Sales Down 7.1% YoY in December
(DBN)

Home Sales Likely Fell to 15-Year Low in 2023
(DBN)

Insolvent Property Giant Signa Inventory Goes On Auction
(DBN)

Is This Really ‘the Worst Time to Buy a Home’?
(DBN)

24-year-olds are more likely to own homes than millennials and Gen X when they were that age
(DBN)

Hamburg: Elbtower Immobilien files for insolvency
(DBN)

WeWork to shut another London office after US bankruptcy
(DBN)

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Municipalities:

The Financial Pain for Cities from Struggling Downtowns
(DBN)

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Oil/Gas:

International Energy Agency revises forecast for oil demand upward
(DBN)

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Tech:

Apple's problems are piling up ahead of its biggest launch in nearly a decade
(DBN)

Elon Musk is about to find out if ultimatums really work Elon Musk gives Tesla's board an ultimatum as he seeks to grab more power
(DBN)

Trump's Truth Social kept losing money in Q3 2023
(DBN)

How copyright lawsuits could kill OpenAI
(DBN)

AI-generated music is everywhere; is any of it legal?
(DBN)

Silicon Valley insiders are trying to unseat Biden with help from AI
(DBN)

Meta joins rivals in pursuit of human-level AI
(DBN)

Election Wave And AI Disinformation Raise Stakes In 2024
(DBN)

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Student Debt:

Student-loan borrowers experiencing hardship need another shot at being included in Biden's second attempt at debt cancellation, 67 advocacy groups say
(DBN)

Biden administration to forgive another $5B in student debt
(DBN)

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Climate:

Greenland Ice Sheet lost 20% more ice mass than thought, study says
(DBN)

As Climate Shocks Worsen, U.S. Disaster Agency Tries a New Approach to Aid
(DBN)

Carbon markets have a long shot at redemption
(DBN)

Global Emissions Could Peak Sooner Than You Think
(DBN)

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Coal:

Congressional watchdog to probe idled ‘zombie’ coal mines
(DBN)

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Cruise Lines:

'They Are Broke or Homeless': 3-Year Cruise Passengers Yet to Receive Refunds Are Pursuing Fraud Charges Life at Sea passengers call for criminal investigation into cruise company as they try to claw back $16 million in refunds
(DBN)

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Retailing:

Macy's closing more stores, cutting jobs in 2024
(DBN)

Tattered Cover Submits Bankruptcy Plans, Owes Nearly $4 Million to Creditors
(DBN)

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Nursing Homes:

Joseph Schwartz, owner of defunct nursing home chain, pleaded guilty to tax fraud
(DBN)

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Politics:

Trump posts all-caps rant telling people they 'JUST HAVE TO LIVE WITH' presidents who 'CROSS THE LINE'
(DBN)

Trump vows to block creation of digital dollar
(DBN)

‘Come on, Man’: Biden Trashes Trump For Calling America a ‘Failed Nation’ and Rooting for a Stock Market Crash
(DBN)

Donald Trump Suffers Double Polling Blow
(DBN)

Most Americans wouldn't vote for Trump if he's convicted of a felony: Poll
(DBN)

Tucker Carlson ‘Certainly a Contender’ to Be Trump’s Vice President, Don Jr. Says The GOP Is Already Clashing Over Trump’s VP Pick Trump veepstakes heat up after Iowa blowout
(DBN)

Billionaire Haley donor waiting for New Hampshire results to give ‘major gift’
(DBN)

What Republicans Used to Believe
(DBN)

Biden may get some help from Republicans against Trump
(DBN)

Biden balances Catholicism with hot-button 2024 issues
(DBN)

No Labels alleges criminal conspiracy against 2024 presidential effort
(DBN)

Biden says Trump’s Iowa caucuses win didn’t mean ‘anything’
(DBN)

Four signs Mike Johnson’s days as speaker could be numbered Bannon blasts Johnson for saying Biden presidency is ‘God’s will’ Johnson gets squeezed by Biden, Senate GOP on Ukraine, border Mike Johnson’s silence on abortion leaves House conservatives fuming. Again House Republican hardliners plot revenge on Mike Johnson GOP infighting over Ukraine creates minefield for Speaker Johnson Johnson’s Big Problem: House Republicans Lack a Governing Majority
(DBN)

DeSantis regrets early strategy of avoiding media
(DBN)

Jordan seeks answers from former Treasury official over flagged ‘MAGA’ transactions
(DBN)

Republicans in New Hampshire want to make ESG investment of state funds a crime punishable by up to 20 years in jail
(DBN)

Lloyd Austin called to testify in Congress on hospitalization
(DBN)

James Carville says third-party candidate going to get 'a lot of f---ing votes' in 2024
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (7 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Economy, Pandemic Drove Up Bankruptcy Filings in 2023 With No Abatement Expected This Year
(DBN)

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Intercreditor:

Incora decision shocker
(DBN)

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Professional Compensation:

BK WD MI: Updated Fee Memorandum
(DBN)

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Executory Contracts:

Not So Fast: An Option to Purchase Real Estate May Not Always Be Rejected by the Debtor in Bankruptcy
(DBN)

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Bankruptcy Alternatives:

2023 Bankruptcy Alternative: Uniform Law On Assignments For Benefit Of Creditors?
(DBN)

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SCOTUS:

SCOTUS majority appears to embrace ‘Kisorizing’ or overturning Chevron deference, oral arguments indicate Remembering Chevron Deference The Supreme Court Is About to Seize Way More Power From Democratic Presidents
(DBN)

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Mass Torts:

3M Begins Payments in $6B Defective Earplug Settlement
(DBN)

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Aviation:

1 key number that says Spirit Airlines won't survive without JetBlue Spirit Airlines Is on Shaky Footing After Judge Blocks JetBlue Deal Spirit Airlines Surges as Carrier Still Supports JetBlue Deal Spirit Airlines Explores Restructuring Options Following JetBlue Deal Collapse Analysts Predict Bankruptcy for Spirit Airlines Spirit Air Says No Bankruptcy Planning After JetBlue Setback
(DBN)

A guy who said he boards the plane whenever he wants, regardless of his boarding group, has kicked off a hot debate online
(DBN)

Sale deadline looms for India's insolvent Go First
(DBN)

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Crypto:

Kirkland Nets $120 Million in Celsius, BlockFi, Voyager Work Kirkland & Ellis Set to Earn Over $120M in Major Crypto Exchanges’ Bankruptcy Cases
(DBN)

Sullivan & Cromwell Wins Big in FTX, Silicon Valley Bank Wrecks
(DBN)

Crypto traders in China are meeting in laundromats and snack kiosks for secret deals: report
(DBN)

Bitcoin's stunning comeback means crypto's total market cap has doubled since the FTX fiasco
(DBN)

Jamie Dimon slams bitcoin as a 'pet rock' that does nothing and vows he's done talking about the cryptocurrency
(DBN)

"Get rich quickly" crypto crime dropped in 2023 as market slowed
(DBN)

Bankrupt Bitcoin Miner Core Scientific to Relist on Nasdaq After Reorganization
(DBN)

Illicit Crypto Transactions Fall to $24.2 Billion in 2023
(DBN)

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Media:

The news business faces a reckoning in 2024
(DBN)

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Non-Profits:

LaPierre's Spending Disgusted Ex-NRA Lobbyist
(DBN)

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Sovereigns:

Bankrupt, Cash Strapped Pakistan Searches for Allies As Economic Woes Worsen in 2024
(DBN)

IMF Says Sri Lanka Made Good Progress on Debt Sustainability IMF Says Sri Lanka Still Needs Deals With Official and External Private Creditors IMF says debt agreements with creditors critical
(DBN)

Egypt Outlook Cut to Negative by Moody’s on Restructuring Risks
(DBN)

Creditors’ Committee agreement unlocks US$300m World Bank budget support for Ghana
(DBN)

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UK:

Why are some London councils still afloat while others struggle?
(DBN)

Eastbourne Borough Council has £112 million in debt
(DBN)

Nottingham City Council to 'accelerate' property sales as £74 million worth due to go
(DBN)

Cash-strapped Leeds City Council to sell off private number plate as critics estimate value at £300k
(DBN)

Tata Steel confirms it is cutting 2,800 jobs across the UK
(DBN)

UK Inflation Jump Is a Warning to Market Dead Set on Rate Cuts
(DBN)

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EU:

Europe’s Top Investment Banks Set to Cut Bonuses on Deal Slump
(DBN)

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MENA:

Biden signals more strikes to come against Houthis The Red Sea attacks are creating chaos in the global coffee trade
(DBN)

Netanyahu Rejects a Palestinian State
(DBN)

The two-state solution is dead. Why pretend anymore?
(DBN)

Saudi Arabia: Peace with Israel conditioned on Gaza ceasefire, path to Palestinian state
(DBN)

Inside Gaza's Collapsing Health Care System Israeli Women Fight on Front Line in Gaza, a First An Arab Proposal for Postwar Gaza Faces Steep Odds
(DBN)

What Might Happen Next in the Genocide Case Against Israel
(DBN)

Rand Paul bid to limit U.S. aid to Palestinians fails on Senate floor Americans in new poll divided on humanitarian aid to Palestinians
(DBN)

In No Position to Fight a War, Pakistan Seeks an Off-Ramp With Iran
(DBN)

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Russia:

NATO Announces Months-long Exercise With 90,000 Troops
(DBN)

‘Wake up!’ European lawmakers warn Washington over Ukraine aid delays The grim reality of more US aid for Ukraine
(DBN)

Putin Orders Hunt for Property of Russian Empire, Soviet Union
(DBN)

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China:

China’s Economy Is in Serious Trouble
(DBN)

China’s $6.3 Trillion Stock Selloff Is Getting Uglier by the Day
(DBN)

Debt-Laden Chinese Regions Told to Stop Some State Projects
(DBN)

Chinese Bad-Debt Manager Huarong Downgraded to Junk by Moody’s
(DBN)

US House Committee says China delayed releasing COVID-19 information for weeks and lied about sharing it immediately
(DBN)

China's now-defunct one-child policy led to 'many more males than females'
(DBN)

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Hong Kong:

Bankruptcy requests hit three-year high
(DBN)

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India:

Homebuyers' Quandary Over IBC And RERA
(DBN)

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Japan:

Zombie Firms in Japan on Rise as BOJ Paves Way for Rate Hike
(DBN)

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South Africa:

Suspension of contractual obligations and the moratorium in South African business rescue
(DBN)

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Singapore:

Third-party funding in insolvency scenarios
(DBN)

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