June 27, 2024

The Daily Bankruptcy News

View prior editions: Click Here
View prior case summaries: Click Here
Search prior headlines: Click here
Search prior case summaries: Click here

Format For Mobile Device



Law:

Biglaw Partner Slammed By Judge For 50 Percent Rate Hike
(DBN)

AI May Not Reduce The Number Of Lawyers Anytime Soon
(DBN)

Vault ‘Quality Of Life’ Rankings: The Best Law Firms To Work For In America (2025)
(DBN)

Tom Girardi's Lawyers Move to Sever Upcoming Trial From Firm's Ex-Accountant
(DBN)

MDLs Make Up More Than Half of U.S. Cases, Whether It's 65% or 71%
(DBN)

The 2024 Biglaw Diversity Scorecard: ‘Subdued’ Progress Amid A War On DEI
(DBN)

Is law school worth it? At 33 low-tier schools, median income after student debt is $55K or below What Are The Returns On That Law School Degree?
(DBN)

Purdue Global will add full-time JD program, while 2 small California law schools will close Oldest Fully Online Law School Plans To Add Full-Time JD Program
(DBN)

Speaker Johnson says House will sue for Biden interview audio
(DBN)

House Republicans ramp up efforts to enforce Garland subpoena after contempt vote
(DBN)

Rudy Giuliani's Disastrous Bankruptcy Case Reveals Bankruptcy System's Loopholes For Influential Debtors 'Pure speech': Rudy Giuliani's friend reveals what appeal of massive penalty for defaming Georgia election workers would entail if bankruptcy judge allows it Rudy Giuliani Loves Buying Bad Ties and Makeup on Amazon Giuliani went on Amazon shopping spree for cheap ties, according to court filing
(DBN)

Trump previews attacks on Biden's son ahead of debate
(DBN)

Attorney Who Beat Trump Twice in Court Starts Boutique Firm
(DBN)

No Donald, Barron Trump’s Peloton at Mar-a-Lago Is Not Off Limits to the Fed
(DBN)

Man who harassed police officers testifying in Jan. 6 cases is arrested on Capitol attack charges
(DBN)

House Republicans Ride To The Rescue Of Steve Bannon ... Or Pretend To, Anyway DOJ urges Supreme Court to keep Bannon’s prison date It's time to stop delaying Steve Bannon's prison sentence, DOJ tells Supreme Court
(DBN)

Last stop Protester who demanded ‘Zionists’ ID themselves in antisemitic rant on packed NYC subway turns himself in after manhunt
(DBN)

Guess how much border crossing numbers plummeted after Biden put in a new policy
(DBN)

U.S. attorney charges five with trying to bribe juror in Minnesota Feeding Our Future trial
(DBN)

House Democrats try bypassing GOP to force gun vote
(DBN)

House G.O.P. Pushes Deep Cuts to Federal Law Enforcement
(DBN)

Highland Park Mass Shooting Suspect Blows Up His Plea Deal in Dramatic Court Hearing
(DBN)

The Long, Strange Road to Alec Baldwin’s Manslaughter Trial
(DBN)

Top 10 worst states for drunk driving
(DBN)

Driver arrested after giving trooper middle finger settles for $175K
(DBN)

______________

Judges:

Formey Bankruptcy Judge Arthur J. Gonzalez, to be a Member of the Financial Oversight and Management Board for Puerto Rico
(DBN)

Judges Rebel Against the Supreme Court
(DBN)

Judge slams Karen Read for smirking at her as she awaits fate in murder trial: ‘This is funny? We’re done’
(DBN)

The Supreme Court hands an embarrassing defeat to America’s Trumpiest court 5th Circuit ‘glossed over complexities,’ Supreme Court says in refusing to curb US social media contacts
(DBN)

Judge arrested outside nightclub is ousted from bench, partly for jailing litigant
(DBN)

______________

Wall Street:

S&P 500 futures fall slightly after the broader index rises for a second day
(DBN)

______________

Layoffs:

Journalism has become ground zero for the jobs crisis
(DBN)

Battery-maker Moxion Power lays off 101
(DBN)

Planet lays off 17% of workforce
(DBN)

MSCS Board approves 100s of layoffs
(DBN)

______________

Tax:

Millions of Taxpayers Call the IRS for Help. Two-Thirds Don’t Reach Anyone - Tax
(DBN)

Watchdog: IRS delays in resolving identity theft cases ‘unconscionable’
(DBN)

Supreme Court sets up wealth tax battle for Congress
(DBN)

____________

Fraud:

Supreme Court sides with mayor accused of accepting bribe in latest ruling to limit public anti-corruption laws The Supreme Court rules that state officials can engage in a little corruption, as a treat
(DBN)

____________

Pharma:

Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers
(DBN)

____________

Gig Economy:

NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive.
(DBN)

____________

Childcare:

The messed up market for child care workers
(DBN)

____________

Food/Beverage:

Arby’s franchisee files for Chapter 11 bankruptcy Weak sales and delayed tax refunds push an Arby's franchisee into bankruptcy
(DBN)

Milk Street Cafe declares bankruptcy after pandemic-era struggles
(DBN)

____________

Climate:

Extreme weather patterns, with heat and flooding, are stuck across the U.S.
(DBN)

EU leaders ditch call to prepare for ‘new realities’ of warmer planet
(DBN)

How Ocean Warming Is Warping the World
(DBN)

Canada wildfires dominated 2023's global forest losses
(DBN)

World’s first carbon tax on livestock will cost farmers in Denmark $100 per cow
(DBN)

____________

Celebs:

Raiders coach Antonio Pierce faces $28 million judgments over wife’s bankruptcy Antonio Pierce May Coach Las Vegas Raiders for Free After Wife Jocelyn Files for Bankruptcy Following USD 28 Million Loan Unpacking bankruptcy reports around Pierce Who Is Antonio Pierce’s Wife? Jocelyn’s Bankruptcy Filings Explained
(DBN)

____________

Politics:

Trump allies test a new strategy for blocking election results
(DBN)

Conservative US lawmakers are pushing for an end to no-fault divorce
(DBN)

Trump’s Inflammatory Comments Matter More Than His Supporters Want to Admit
(DBN)

J.D. Vance Says He’ll Be Disappointed if Trump Doesn’t Pick Him for V.P.
(DBN)

How Biden aims to paint Trump during debate The Story Biden Ought to Be Telling in This Debate How Trump could seek to frustrate Biden’s strategy Progressive group unveils five debate recommendations for Biden Biden and Trump's first 2024 debate will be different than any other in recent memory Johnson: Trump shouldn’t say election was stolen at debate Trump Suggests Biden’s Debate Prep Includes Cocaine and Steroids Speaker Johnson: ‘No one expects that Joe Biden will be on cocaine’ at debate Trump, Biden contrasts on Ukraine, Israel to take center stage These 4 issues will likely define the Trump-Biden debate How the Biden-Trump debate could change the trajectory of the 2024 campaign CNN’s Presidential Debate Rules Irk Other TV Networks Poll: Republicans more invested in Biden-Trump debate Trump VP wannabes flock to Atlanta for debate watch
(DBN)

Ex-Rep. Adam Kinzinger, a vocal GOP critic of Trump's, endorses Biden ahead of debate
(DBN)

AIPAC is not the only reason Jamaal Bowman lost
(DBN)

All eyes on Cori Bush after fellow "Squad" member's ouster
(DBN)

RFK Jr. to stream his own "real debate" during Trump-Biden debate RFK Jr. faces a hurdles to stay relevant
(DBN)

In South Carolina, 3 G.O.P. Senators Fought an Abortion Ban. They Lost Their Races.
(DBN)

Republican Push to Limit Abortion Access Falters Two Years After Dobbs
(DBN)

LGBTQ+ officeholders nearly triple since 2017, report finds
(DBN)

Project 2025 is Trump's blueprint to get rid of democracy and the rule of law
(DBN)

___________


Economy:

Even High Earners Worry About Making Ends Meet, US Poll Finds
(DBN)

"Corporations have to do more:" Inside the Biden team's inflation bully pulpit Inflation blame game: Who Republicans, Democrats say is driving high prices
(DBN)

Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
(DBN)

CBS News price tracker shows how much food, utility, housing costs are rising
(DBN)

The next inflation-cooling force: Consumers are revolting against high prices
(DBN)

It’s the economy, stupid. Here’s what you need to know about it
(DBN)

US Retirement Accounts Are Flush for Millions of Older Americans
(DBN)

Dollar Soars to Fresh 2024 High as Fed Diverges From Major Peers
(DBN)

Jamie Dimon says America's school-to-job pipeline is broken
(DBN)

Census: Latinos drove U.S. population increase in 2023
(DBN)

Janet Yellen says inflation will return to normal without a recession
(DBN)

America's crisis of meaningless work
(DBN)

Trump's pledge to deport the most US workers in history could trigger recession and an inflation spike, economist says
(DBN)

Number of US Kids Has Fallen Since Pandemic, Except in Florida
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

MBA: Mortgage Applications Increased in Weekly Survey
(DBN)

Law Firms Are a Bright Spot in a Dreary Office Leasing Market
(DBN)

Cushman & Wakefield Sues to Disband Alleged 'Imposter' Real Estate Firm
(DBN)

They Thought They Owned Condos. They Never Got the Deeds.
(DBN)

Florida's Insurance Crisis Could Get Even Worse
(DBN)

New Home Sales Decrease to 619,000 Annual Rate in May; Median New Home Price is Down 9% from the Peak US New-Home Sales Slump to Slowest Pace Since November
(DBN)

Monthly rents across country continue to rise in June: Report
(DBN)

Florida's Housing Market Value Could Plunge Under New Bill
(DBN)

The US real-estate market is headed for a correction, strategist says
(DBN)

Here’s where U.S. rents are rising — and falling — the fastest
(DBN)

Renters Must Earn $66,120 to Afford the Typical U.S. Apartment. The Typical Renter Makes $11,000 Less Than That.
(DBN)

These are the 5 US cities you should buy a home in before you get priced out of the housing market, says 'Million Dollar Listing' real estate investor
(DBN)

AIA: Architecture Billings Declined in May; Multi-family Billings Decline for 22nd Consecutive Month
(DBN)

____________

Municipalities:

Chairman of federal control board overseeing Puerto Rico finances to step down
(DBN)

____________

Education:

Historic Bacone College taught generations of Native students. Now it's struggling to survive
(DBN)

Travis County Attorney drops charges against 79 more UT-Austin protesters
(DBN)

Harvard’s antisemitism and anti-Muslim task forces urge the university to act soon Harvard Reports Find Climate of Bias for Both Jewish and Muslim Groups
(DBN)

____________

Healthcare:

Smallest businesses feel crush of health care costs
(DBN)

I’m pregnant. I’m traveling. I’m terrified.
(DBN)

Demand for birth control, Plan B pills drop in Texas, other states with abortion bans
(DBN)

Little progress seen in closing racial, ethnic gaps in health care: Report Health inequities haven't improved in last two decades, report says
(DBN)

Fears new 'most dangerous' mpox strain could cross borders
(DBN)

Texas hospital is reportedly 1st in US to use holograms for doctor-patient visits
(DBN)

____________

Water:

America’s drinking water is facing attack, with links back to China, Russia and Iran
(DBN)

____________

Tech:

Toys 'R' Us Spits On Its Own Grave With AI-Generated Trash
(DBN)

Amazon reaches $2 trillion market cap for the first time
(DBN)

Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
(DBN)

Robots keep getting creepier
(DBN)

“It Was Astonishing”: How NBC Convinced Al Michaels to Embrace His AI Voice for Olympics Coverage
(DBN)

____________

Agribusiness:

Gassy cows and pigs to be hit by carbon tax in Denmark in world first
(DBN)

The Perishable Agricultural Commodities Act: Suggestions for a Grade A Loan
(DBN)

____________

Transit:

Congestion Pricing Suspension Halts $16.5 Billion in Subway Upgrades
(DBN)

____________

Autos:

Electric vehicle prices are tumbling. Here's the financial impact
(DBN)

CDK says it’s brought a small group of car dealerships back online after massive weeklong outage
(DBN)

Rivian founder tells investors why incoming shareholder Volkswagen needs his help to take on Tesla just as much as he needs the cash injection
(DBN)

Prospect of low-priced Chinese EVs reaching US from Mexico poses threat to automakers
(DBN)

Ford finds a new home to develop affordable electric vehicles
(DBN)

____________

Solar:

A signature Biden law aimed to boost renewable energy. It also helped a solar company reap billions
(DBN)

What Happens to Those Solar Panels When Solar Companies Shut Down
(DBN)

____________

Hotels:

SoCal Airport Hotel Flies to Bankruptcy Auction Next Month
(DBN)

____________

Crypto:

U.S. government sends 3,940 Bitcoin to Coinbase exchange
(DBN)

Crypto Giants Notch Wins in Expensive Quest to Sway U.S. Politics – Without Mentioning Crypto
(DBN)

JPMorgan says Mt. Gox creditors likely to sell part of bitcoin receivables next month
(DBN)

____________

Media:

Far-right site Gateway Pundit to answer claims of ‘bankruptcy abuse’ in hearing
(DBN)

A new measure of Americans’ deep distrust of the media
(DBN)

____________

Entertainment:

Paramount Cuts Nearly All Content On Comedy Central, TV Land, CMT and MTV Websites
(DBN)

____________

Personal Finance:

My family moved to Europe for the summer — our Airbnb cost $4,000 less than sending my kid to day camp in the US
(DBN)

____________

Banking:

Federal Reserve says all 31 banks in annual stress test withstood a severe hypothetical downturn
(DBN)

____________

 


New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Why the Sackler Shield Is at Risk in Supreme Court
(DBN)

____________

Cross-Border:

Having Property in the United States: A Prerequisite to Chapter 15 Relief?
(DBN)

____________

Bankruptcy Reform:

How to fix a bankrupt bankruptcy system
(DBN)

____________

Venue:

Choosing Your Judge
(DBN)

____________

UST:

The Circuit City Landmine Redux, the Final Word (Office of the United States Trustee v. John Q. Hammons Fall 2006, LLC): Supreme Court Holds that Chapter 11 Debtors Do Not Get a Refund on U.S. Trustee Quarterly Fees Under Unconstitutional Fee Increase
(DBN)

____________

401(k):

401(k) Assets Caught in Limbo: Plan Sponsor Bankruptcy Explained
(DBN)

____________

Disclosure:

Getting Public Information in Chapter 11
(DBN)

____________

Finance:

Incora’s 2022 Capital Raise to Be Ruled Illegal in Bankruptcy Court: "You sent 250 million and you got nothing"
(DBN)

Exiting With Ease: How Alternative Lenders Can Work With Banks in Exit and Rehabilitation Scenarios
(DBN)

____________

Avoidance Actions:

Recent Success in Dismissing Fraudulent Conveyance Claims in Deed-in-Lieu Transaction
(DBN)

____________

Eligibility:

Debt Limits to Qualify for Subchapter V and Chapter 13 Revert to Prior Lower Levels
(DBN)

____________

Executory Contracts:

In re Weinstein and Mallinckrodt: Implications for Royalty Financings, M&A Earn-Outs, and Other Transactions Involving Future Payment Obligations
(DBN)

____________

Retailing:

Rite Aid seeks bankruptcy court approval to cut $2 billion debt
(DBN)

Sam Ash finds buyer after filing for bankruptcy
(DBN)

Walgreens slashes profit guidance, citing ‘challenging’ environment for consumers and pharmacies
(DBN)

____________

Aviation:

How Boeing CEO’s Catastrophic Reign Could Become Criminal
(DBN)

Boeing Faces Whistleblower Claims of Lapses on Some 787 Jets A Boeing whistleblower says he saw holes being drilled incorrectly on 787 planes, adding to the chorus of people speaking up against the company
(DBN)

Boeing sanctioned by NTSB over release of 737 Max probe details
(DBN)

Two US astronauts stuck in space as Boeing analyzes Starliner problems
(DBN)

NASA taps Elon Musk’s SpaceX to bring International Space Station out of orbit in a few more years
(DBN)

Southwest Airlines cuts revenue forecast as booking patterns change
(DBN)

____________

SCOTUS:

Supreme Court allows White House to press social media companies to remove disinformation Supreme Court tosses out claim Biden administration coerced social media companies to remove content Supreme Court to MAGA: Your Social Media Conspiracy Dreams Are Bunk Alito rails against White House in social media case dissent
(DBN)

Get ready for the Supreme Court to drop some bombshell decisions
(DBN)

Opinion briefly posted online shows Supreme Court poised to restore emergency abortion access in Idaho The Supreme Court just basically butt-dialed us What to know about the mistakenly posted abortion case draft What document blunder says about SCOTUS's relationship with technology Supreme Court appears poised to allow emergency abortions in Idaho for now, Bloomberg report says US Ruling Unlikely to Resolve Uncertainty on Emergency Abortions
(DBN)

If You've Appreciated The Service You've Received, Consider Tipping Your Supreme Court Justices!
(DBN)

____________

Corporate Governance:

Delaware law to allow big investors greater sway over US corporate boards
(DBN)

____________

Student Debt:

Biden’s new student loan relief plan is on pause. Here’s what borrowers need to know
(DBN)

What Happens to Biden’s Student Loan Repayment Plan Now?
(DBN)

____________

Sovereigns:

Wealthy nation creditor club sees tide shifting as debt defaults peter out
(DBN)

Behind the Deadly Unrest in Kenya, a Staggering and Painful National Debt
(DBN)

Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France India hails Lanka's debt restructuring pact; reaffirms support to recovery Sri Lanka debt deal key to restoring debt sustainability, says IMF As Sri Lanka signs pact with China bank, other creditors seek deal details
(DBN)

____________

UK:

Travel firm cancels all bookings until next month amid insolvency issues
(DBN)

____________

EU:

Germany’s Scholz blasts EU for failure to do trade deals
(DBN)

French far-right leader Jordan Bardella vows ‘cultural battle’ against Islamism and demands EU rebate
(DBN)

France’s upcoming election is rattling nerves and raising debt crisis talk
(DBN)

____________

Australia:

Hold your stalking horses! Risks for parent companies when subsidiaries and special purpose vehicles become insolvent
(DBN)

____________

Russia:

Wall Street Journal editor predicts ‘bogus’ Gershkovich conviction as trial opens The Sick Sideshow at Russia’s Secret Trial Against WSJ Reporter
(DBN)

Russia's oil and gas revenue is reportedly set to boom 50% this month
(DBN)

NATO Will Offer Ukraine a ‘Bridge’ to Membership, Hoping That’s Enough
(DBN)

____________

MENA:

What the Court’s Ruling on Drafting the Ultra-Orthodox Means for Israel
(DBN)

We Are Israelis Calling on Congress to Disinvite Netanyahu
(DBN)

U.S. and Israel resolve weapons supply problems, but 2000-lbs bombs still on hold
(DBN)

500 medical workers killed during Israel’s military assault on Gaza, UN says
(DBN)

In the searing heat of the Gaza summer, Palestinians are surrounded by sewage and garbage
(DBN)

20,000 Children in Gaza are Missing
(DBN)

Israel allies warn against Gaza war spreading to Lebanon Why an Israel-Hezbollah war would be far more dangerous today than the last time around ‘A disastrous event’: All-out war between Israel and Hezbollah could devastate both sides
(DBN)

Israel re-establishes working groups on Iran nuclear program
(DBN)

Vessel reports attack off Red Sea port of Hodeidah
(DBN)

____________

Germany:

Corporate bankruptcies rise again in May
(DBN)

____________

Bolivia:

Military Coup in Bolivia Fails Troops and armored vehicles disperse as Bolivia arrests army chief leading coup attempt
(DBN)

____________


The Daily Bankruptcy News is primarily a curated news link gathering service.   Most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not The Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subptption fee is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use. If you received The Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the most recent edition of The Daily Bankruptcy News on the web at BKInformation.com.

Advertising
Advertising is available in The Daily Bankruptcy News. Click here for details  Feel free to contact us with any questions.

Passwords/Subscriptions
Access to certain links in The Daily Bankruptcy News is available only to readers holding a paid service subscription. These links are currently marked with a "DBN" notation. The cost of a subscription is $75.00/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links.

New readers can receive a free password good for 30 days by clicking here. 30-day passwords are not available to readers who have previously had a password, even if the password was associated with a different email address used by the reader. Refunds are not available after purchase.

Readers who wish to change their passwords should click here. Readers who have forgotten their password should click here.

Adding Your Email Address To The Distribution List
If you would like to start receiving The Daily Bankruptcy News by email each day, click here, and fill in the information requested. There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.

Removing Your Email Address From The Distribution List
If you already receive The Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear. You do not need to type anything in the body of the email message. Note that the email asking for removal must be sent from the same email address which is on our distribution list. If you do not receive an email confirming deletion of your email address from the distribution list, contact us by clicking here for help.

If receive the publication forwarded from an older email address, you will need to contact us as described below for help removing that older address from our distribution list.

Press Releases/News Tips
Please send press releases and news tips to admin@bkinformation.com

Contact Us
The Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C. You can phone or text us at 281-402-3957. You can email us at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries). Our mailing address is 935 Eldridge Road, No. 350, Sugar Land, Texas 77478.

Copyright 2024