July 25, 2024

The Daily Bankruptcy News

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Law:

Defunct law firm Schnader Harrison loses bid to dismiss ERISA suit over handling of retirement money
(DBN)

Lawyer gets stayed suspension after response to one-star review; is ‘offensive personality’ a violation?
(DBN)

Polsinelli touts ‘meteoric rise’ in revenue ranking as it adds 20-plus partners from competitor
(DBN)

Dentons Elects Former Ernst & Young Executive as New Global CEO
(DBN)

Clifford Chance Tallies £2.3 Billion in Revenue for Record Year
(DBN)

Can partners afford to leave their BigLaw firms? Some discourage departures by withholding cash
(DBN)

Biglaw Firms Try To Lure Lawyers To The Office With Amenities That Offer The Comforts Of Home
(DBN)

‘Shaping the Bar’ author says bar exam protects legal profession, not public
(DBN)

4 surprising signs of attorney stress and some ways to address it
(DBN)

Trump fraud-trial lawyers distance themselves from Alina Habba in fighting $7,500 frivolous-filings sanctions from 2023
(DBN)

DOJ watchdog finds no improper pressure on prosecutors to lower Roger Stone sentence DOJ IG blames 'unusual' Roger Stone sentencing memo reversal on Bill Barr's ex-counselor
(DBN)

House votes to create a task force to investigate the Trump assassination attempt
(DBN)

Judge won't toss out Trump's 'liable for rape' defamation suit against ABC, Stephanopoulos
(DBN)

'Trump is trying to stop Harris from using Biden's campaign funds. Here's why it's an uphill battle.
(DBN)

Texas woman’s lawsuit after being jailed on murder charge over abortion can proceed, judge rules
(DBN)

Texas attorney general can’t question Catholic Charities director over migrant services, court says
(DBN)

Andrew Tate's defamation lawsuit against human trafficking accuser can proceed, judge says
(DBN)

Woman pleads guilty to stealing $300K from Alabama church to buy gifts for TikTok creators
(DBN)

DNA leads to arrest of suspect in 1982 murder of teen girl in California
(DBN)

Fatal shooting of Sonya Massey reignites police reform calls
(DBN)

A police drone might respond to your next 911 call
(DBN)

Tenn. store clerk caught on video stealing customer’s $1M-winning lottery ticket: ‘It’s pretty obvious’
(DBN)

Man 'got tired of waiting' for mafia hit man job so he went on his own killing spree
(DBN)

Pediatrician who admitted murder-for-hire plot on ex didn't stopped trying from jail: Feds
(DBN)

Trump Falsely Claims Crime is Rising (Again)
(DBN)

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Judges:

$30 million gift will fund center to push for Supreme Court overhaul
(DBN)

Biden Favors Younger Judges in Shift From Previous Democrats
(DBN)

Oldest federal judge's 'misconduct' leads to judicial panel recommending 1-year suspension
(DBN)

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Wall Street:

S&P 500 futures slip after worst day for benchmark since 2022
(DBN)

Stock market has worst day since 2022 as Tesla, Google parent Alphabet sink US$1 trillion rout hits Nasdaq 100 over AI jitters in worst day since 2022
(DBN)

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Layoffs:

Electronics company to lay off 130 Albuquerque employees
(DBN)

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Autos:

Tesla Slide Continues As Analysts Reality-Check Musk’s AI Hype That Has Overvalued Stock Tesla Slumps as Musk Tethers Its Future to Delayed Robotaxis Tesla's Aging Cars Aren't Selling So Elon's Making Promises About AI And New Models Elon Musk is probably getting a little nervous Trump: Musk never asked me to ‘lay off’ EVs Tesla's cars are starting to look pretty basic — and that's a problem Tesla rally gives way to rout as analysts sour on the stock Tesla's bleak margins sour investors as Musk hypes everything but cars
(DBN)

Stellantis Earnings Nearly Halved, Leading Car Industry Slump
(DBN)

Rivian's CEO has a theory for the slowdown in EV growth
(DBN)

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Education:

7-year-old must testify about banned books she wants to check out of school library: Judge
(DBN)

Georgia denies state funding to teach AP Black studies classes
(DBN)

3 Alabama universities close DEI offices, shift staff
(DBN)

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Nursing Homes:

Sale of Pittsburgh-area nursing homes could end workers' quest for back pay
(DBN)

Bankrupt nursing homes hit with $35M fine over ‘malicious’ payroll violations Massive penalty hits troubled Pa. nursing home chain
(DBN)

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Fashion:

Lessons From a Sustainable Fashion Bankruptcy
(DBN)

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Food/Beverage:

California Winemaker Files for Bankruptcy, Citing Lower Demand
(DBN)

Pizza Hut franchisee files for bankruptcy amid legal battle
(DBN)

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Student Debt:

Republicans ask the Supreme Court to gut student loan relief a second time
(DBN)

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Movie Theaters:

Theater chain AMC forecasts Q2 loss due to fewer big releases AMC's debt restructuring bodes well for box-office recovery, analyst says
(DBN)

Cineworld closing 25 cinemas in the UK Cineworld To Axe Hundreds Of Jobs In Blockbuster Restructuring Plan
(DBN)

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Healthcare:

Bankrupt Wadley Regional Medical Center bought by Pafford Health System and Hope, Hempstead county leaders
(DBN)

Healey presses Steward to move forward quickly in selling Massachusetts hospitals
(DBN)

Bausch Health responds to 'unsubstantiated' Reorg report, says it's not considering bankruptcy
(DBN)

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Edtech:

2U files for Chapter 11 Bankruptcy in Prepackaged Deal 2U, Owner of edX Online Courses, Files Chapter 11 Bankruptcy
(DBN)

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Fraud:

After Supreme Court limits prosecutors fighting corruption, what comes next?
(DBN)

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Tech:

Fortune 500 lost an estimated $5.4B in CrowdStrike outage
(DBN)

CrowdStrike sent its partners $10 Uber Eats gift cards as an apology for mass IT outage
(DBN)

The problem of ‘model collapse’: how a lack of human data limits AI progress
(DBN)

California is trying to force Big Tech to pay for news. What can we learn from Australia and Canada?
(DBN)

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Batteries:

Porsche in Talks With Creditors BlueBay, Hayfin Over Varta Deal
(DBN)

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Entertainment:

Former Employees Of Redbox Parent Chicken Soup For The Soul Entertainment Sue Bankrupt Company And Ex-CEO Bill Rouhana For “Ponzi Scheme” & “Greed At Shocking Levels”
(DBN)

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Economy:

Why a majority of Americans think the economy is already in a recession
(DBN)

Why an indicator that has foretold almost every recession doesn't seem to be working anymore
(DBN)

World's richest 1% gained $40 tn in a decade: Oxfam
(DBN)

US Treasuries Lead Global Bond Rally as Haven Demand Grows
(DBN)

US Business Activity Expands by Most in More Than Two Years US business activity edges higher; pricing power diminishing U.S. economy shakes off summer heat and expands faster, S&P finds
(DBN)

Share of US Credit Cards Past Due Climbs to Highest Since 2012
(DBN)

The Hottest Job Market in a Generation Is Over
(DBN)

Job seekers are sour on the cooling labor market
(DBN)

Gen X's retirement woes may give rise to a generation of 'silver squatters'
(DBN)

Treasury Yields Slide as Dudley Fuels Speculation on Fed Cuts Former Fed official Dudley backs July rate cut, worries labor market weakness might gather steam
(DBN)

US High-Grade Bond Sales Post Biggest July since 2017
(DBN)

Federal judge upholds FTC ban on noncompete agreements Things Could Get Confusing After Dueling Rulings on Noncompetes
(DBN)

Summers Says GOP Fiscal Plans Set US Up for ‘Liz Truss Moment’
(DBN)

What a Reelected Trump Could and Couldn’t Do to Sway the Fed
(DBN)

Paid parental leave: U.S. access is increasing Checklist: How to make a paid parental leave plan
(DBN)

How 15 years of stagnant federal minimum wage affects hourly workers
(DBN)

I'm a tech startup founder. We weed out job applications written with ChatGPT by hiding a prompt just for AI in our listings
(DBN)

Undocumented immigrants will boost economy, lower deficit, CBO says
(DBN)

The World’s Hunger Problem Is Barely Improving, UN Says
(DBN)

Will US companies keep faith in the ‘Texas miracle’?
(DBN)

On Economic Policy, Harris Has Played Limited Role Harris Works to Build Bridges to the Business World
(DBN)

What bankers might expect if Kamala Harris wins the White House
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

U.S. Commercial Real Estate Is Headed Toward a Crisis
(DBN)

US New-Home Sales Unexpectedly Decline to a Seven-Month Low New-home sales fell in June as the number of completed units hit its highest level in 15 years New Home Sales Decrease to 617,000 Annual Rate in June; Median New Home Price is Down 9% from the Peak
(DBN)

America’s Smallest Apartments Are Getting Even Smaller
(DBN)

AIA: Architecture Billings Declined in June; Multi-family Billings Declined for 23rd Consecutive Month
(DBN)

Blackstone's battered mortgage fund slumps as empty offices intensify pressure
(DBN)

2 In 5 Feel 'Stuck' Living Where They Are
(DBN)

Redfin Reports 65% of Home Listings Have Been Sitting on the Market Longer Than a Month, Up From 60% a Year Ago
(DBN)

Homebuyers are getting cold feet
(DBN)

They Were Hotshot Real Estate Agents. Some Women Say They Were Predators.
(DBN)

Real Estate Market Is Broken for Everyone Except the Ultra Rich
(DBN)

____________

Oil/Gas:

Court Approves Settlement Agreement Between Zachry Holdings, Inc. and Golden Pass LNG Ruling Paves Way to Restart Work on Exxon’s Texas LNG Plant
(DBN)

US oilfield firms slash prices as mega-mergers shrink customer base
(DBN)

Oil Billionaires Bet on Trump’s Energy Agenda
(DBN)

Honda to Cut Gas Car Production in China by 19% From October
(DBN)

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Politics:

Biden delivers solemn call to defend democracy as he lays out his reasons for quitting race Says he quit to 'save democracy' ‘Our republic is now in your hands’: Biden appeals to Americans to ‘preserve our democracy’ Biden: It's time for "younger voices" Biden to tell nation the 'defense of democracy is more important than any title' as he explains dropping 2024 bid So what does Joe Biden do now?
(DBN)

Elon Musk’s X boosts conspiracy theories that Biden is dead or dying
(DBN)

Biden approval hits new low in latest Gallup polling
(DBN)

How Kamala Harris Locked Up the Nomination in Two Days Democrats Finalize Plan to Nominate Harris Before Convention Obama plans to endorse Harris for president soon Republicans allege Harris "coup" after swift candidate swap Was Biden dropping out of the race a ‘coup’? Experts explain 'Dumb' and a 'DEI' candidate: Trump and allies attack Kamala Harris based on her race, gender Falsehoods about Kamala Harris' citizenship status, racial identity resurface online as she becomes likely Democratic nominee McCarthy: DEI attacks on Harris ‘stupid’ Republicans Keep Making Personal Attacks Against Harris. Some Are Scared It Will Hurt Them. Johnson seeks to quash "DEI hire"-type attacks on Harris Harris ascent fills some Black women with jubilation — and fear Trump fires hard at Harris in first rally since Biden dropped out What’s Kamala Harris’s vision for America? Harris plans to finish Biden's progressive agenda What Harris' VP choice will tell us about her vision of victory Carville: ‘Excitement’ around Harris has to be tempered with ‘realism’ Democrats are cautiously optimistic that they finally have the first female president Gen Z voters largely optimistic about Harris but say she needs to prove herself on the campaign trail Harris' big test: reclaiming swing states for Dems How the Divine Nine is boosting Kamala Harris' campaign Harris puts Democratic Party's "backbone" front and center: Black women Harris border confusion haunts her new campaign Harris Targets Trump by Raising Threat of ‘Extreme’ Project 2025 These business leaders and billionaires are backing Kamala Harris Defining Kamala Harris From Melinda Gates to Reed Hastings, here's what business leaders are saying about Kamala Harris Who could Kamala Harris pick as her VP? Here are 10 potential running mates Kamala Harris doesn't scare Republicans, but Mark Kelly absolutely should This Is Kamala Harris' Playbook to Beat Trump ‘Haley Voters for Harris’ PAC Ramps Up Kamala Support After Cease and Desist Kamala Harris’ criminal justice policies in California angered both progressives and police Donald Trump Supporters Flipping to Kamala Harris: New Poll How Kamala Harris is going about finding a VP pick With Kentucky Gov. Andy Beshear, Democrats eye a VP nominee pick who can win over blue-collar voters
(DBN)

Nearly 40K new voters registered in 48 hours after Biden’s exit
(DBN)

Trump Claims Kamala Harris Is ‘Totally Against the Jewish People,’ Which Would Come as News to Her Husband
(DBN)

Trump calls on FBI head to resign for comment on Biden's competency
(DBN)

Gen X is in charge now, and boomers are being shown the door
(DBN)

Chinese social media is brimming with anti-Kamala Harris, pro-Donald Trump posts
(DBN)

Conservative Influencer Refuses to Back Donald Trump After RNC
(DBN)

Hundreds of pro-Palestinian protesters arrested on Capitol Hill ahead of Netanyahu visit Rabbi Protesting Netanyahu Visit Asks 'How Can We Not Stand Up?' Six spectators charged for "disrupting" Netanyahu speech Parents of Israeli-American hostage speak out ahead of Netanyahu’s address to Congress Trump posts letter from Palestinian leader ahead of Netanyahu meeting Netanyahu to face skeptical Democrats at congressional address Anti-Israel Protesters Breach Security, Release Maggots Into Netanyahu Hotel Hamas Issues Warning Ahead of Netanyahu's Speech to Congress Netanyahu slams protesters, says war against Hamas is America's fight too American hostage families' message for Netanyahu: Bring them home now Biden to press Netanyahu to close Gaza hostage and ceasefire deal in meeting In fiery speech to Congress, Netanyahu vows ‘total victory’ in Gaza and denounces US protesters Netanyahu Pays Tribute To Trump In Congress Address It’s Time to Rethink the U.S.-Israel ‘Special Relationship’ Around half of Congress' Democrats skip Netanyahu speech Sweeping bipartisan Netanyahu boycott grows to include Pelosi Pelosi Slams Netanyahu’s Address as the ‘Worst Presentation of Any Foreign Dignitary’ Invited to Congress Has Netanyahu finally lost America? Netanyahu Lashes Out at ICC
(DBN)

Lawmakers Press Wray Over Attempted Assassination of Trump How the 'second shooter' conspiracy theory spread Trump plans to stop holding outdoor rallies after assassination attempt F.B.I. Director Shares New Details in Attempted Assassination of Trump FBI analyzing Trump shooter’s drone; recovered three explosive devices Trump gunman Thomas Crooks searched ‘How far away was Oswald from Kennedy?’ before assassination attempt FBI director casts doubt on whether Trump was struck by bullet during assassination attempt at rally
(DBN)

Trump may regret choosing JD Vance as his running mate, political scientists say JD Vance Has a Bunch of Weird Views on Gender Is Donald Trump Getting Cold Feet Over JD Vance? What We Know K Street struggles to decode Trump VP pick Vance Sen. Mark Kelly, a Harris veep contender, rips into JD Vance on Ukraine JD Vance breaks polling records in the worst way Inside JD Vance’s Short-Lived Career as a Venture Capitalist
(DBN)

"The house is on fire": U.S. officials confront Russia, China threat to West
(DBN)

Harley-Davidson is latest all-American brand to face boycott over DEI Pride events for kids
(DBN)

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New Bankruptcy Opinions
(1 new opinion today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 new filings today)
(DBN)

Recent Ch. Adversary Proceeding Filings (36 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

What Happens After the Supreme Court’s Debacle in Purdue Pharma?
(DBN)

40+ states prepare to sue Purdue Pharma over opioid settlement
(DBN)

Abuse survivors approve diocese’s reorganization plan
(DBN)

____________

Debt Collection:

7th Cir. Upholds Rejection of Borrower’s FCRA and FDCPA Claims Arising from Collection and Reporting Post-Bankruptcy
(DBN)

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Arbitration:

Delaware Bankruptcy Judge Declines to Order Arbitration of Key Pension Claims
(DBN)

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Discharge:

Applying “Intent” Standard For Denying A Discharge Under § 727(a)(2) (Wylie v. Miller)
(DBN)

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Bankruptcy Research:

Does Resolution Time Really Matter? Evidence from Chapter 11 Firms
(DBN)

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Aviation:

Delta Airlines cancellations and delays continue but worst of IT outage impact is over, CEO says Delta passengers can count on "minimal" flight cancellations Wednesday, CEO Ed Bastian says Delta cancellations, delays from IT outage should end by Thursday: CEO Delta's IT outage woes are costing the airline $350 million and counting, analysts say Delta’s CEO is off to Paris while his airline struggles to recover from massive meltdown
(DBN)

Portugal Reiterates Plan to Privatize State-Owned Airline TAP
(DBN)

This is the first airline where women can request not to sit next to men
(DBN)

____________

Labor:

Labor practices at private-equity-owned firms may endanger teachers' pensions, says report
(DBN)

Hotel workers in four US cities to hold strike authorization votes
(DBN)

Disneyland workers reach tentative deal with company, averting strike
(DBN)

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Climate:

Wildfires across western U.S. and Canada force thousands to evacuate
(DBN)

Dozens of wildfires in Pacific Northwest and Canada hit U.S. air quality
(DBN)

Oregon fire is the largest burning in the US. Thunderstorms and high winds are exacerbating it
(DBN)

Earth likely just had its hottest two days in thousands of years
(DBN)

You’re Not Imagining It: Texas Is Getting More Humid
(DBN)

The Biden administration made progress on climate change. Experts say Kamala Harris needs to convince climate voters.
(DBN)

Spanish Power Prices Jump Fourfold in July as Cooling Use Surges
(DBN)

Extreme Heat Threatens Future Summer Olympics
(DBN)

Death Valley heat melts skin off a man's feet after he lost his flip-flops in the dunes
(DBN)

China Renews Call for Trillions in Climate Funds for Poor States
(DBN)

____________

Crypto:

BlockFi prepares to make customers whole BlockFi Submits Plans to Refund Customers and Creditors In Full
(DBN)

Kraken Exchange Under Fire As Some Mt Gox Creditors Complain Kraken finishes Mt. Gox Bitcoin distribution, but creditors aren’t selling BTC
(DBN)

____________

Sports:

Diamond RSN Bankruptcy Saga Plays On as Court Delays Key Hearing
(DBN)

____________

Tax:

Exempting tips from Taxes: A costly illusion
(DBN)

The billionaire tax proposal that’s driving Silicon Valley to support Trump
(DBN)

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Retailing:

Who got hit worst by Conn’s/Badcock filing? Top creditors may surprise you
(DBN)

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Hedge Funds:

George Weiss Offers to Fund Wind-Down of Hedge Fund He Founded
(DBN)

____________

UK:

Thames Water Scrambles to Avoid Fines as It’s Cut to Junk
(DBN)

King Charles' monarchy gets a $60M pay rise as the U.K. grapples with a cost of living crisis
(DBN)

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EU:

Most Europeans say corruption is rife in their country
(DBN)

Europe’s manufacturing slump shows no signs of ending
(DBN)

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Russia:

Ukraine lobbies weapons suppliers to "lift all bans"
(DBN)

Ukraine Presses China to Help Seek End to War With Russia
(DBN)

Britain and Germany team up on defense as fears grow Trump will ditch Ukraine
(DBN)

Russia would lose up to 1.8 million troops and take 5 years to capture the 4 Ukrainian regions it wants: UK army chief
(DBN)

Russian Firms Face Mounting Payment Issues as Sanctions Bite
(DBN)

____________

Venezuela:

With $150 Billion in Default, Maduro Needs Sanctions Relief Fast
(DBN)

The ‘Iron Lady’ of Venezuela Threatens to Unseat Its Autocrat
(DBN)

____________

France:

France needs to cut over €100B so it doesn’t end up like Italy
(DBN)

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Germany:

German Business Expectations Fall, Deepening Rebound Worry
(DBN)

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MENA:

Hezbollah broadcasts drone video it says shows airbase deep in Israel
(DBN)

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Cuba:

Cuban President admits 'very difficult' crisis is causing a spike in 'social violence, addictions'
(DBN)

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China:

Courts fulfilling duties in bankruptcy cases
(DBN)

China Court Weighs Restructure Bid From Jiangsu Delong Creditor
(DBN)

China Unexpectedly Cuts One-Year Policy Rate by Most Since 2020
(DBN)

____________

Malaysia:

Over 140,000 bankruptcy cases discharged, surpasses target
(DBN)

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