June 5, 2024

The Daily Bankruptcy News

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Law:

In-House Leaders Say Lawyers At These Biglaw Firms Are Client Service 'All-Stars' (2024)
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Ex-Law Professor's Lawsuit Against Former Students He Admits Sleeping With Somehow Still Happening
(DBN)

U.S. News Law School Rankings Aren’t Useful Anymore to Applicants
(DBN)

‘Colorful’ attorney with ‘massive client list’ sentenced for $2M theft, impersonating his lawyer
(DBN)

No 'Fear Factor': Biglaw Summer Associates 'Excited' About Using AI
(DBN)

Biglaw Firm Allegedly Told Partner It was Time To ‘Hang Up His Spurs’
(DBN)

How To Run A Small Law Firm Without Getting Overwhelmed
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Lewis Roca's Managing Partner Explains Why Law Firm Leaders Should Volunteer In The Community Where Their Firm Is Based
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Citing ‘Sixth Amendment nightmare,’ 9th Circuit allows pretrial release of defendants without lawyers
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Elon Musk’s X urges Supreme Court to limit government's nondisclosure orders
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Appeals court blocks Fearless Fund from awarding grants to Black women Founder of grant program slams court for blocking funds for Black women's businesses
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Judge cites ‘utter lack of specificity’ as he tosses suit alleging NYU law review favors minorities
(DBN)

GOP senators warn judge against sentencing Trump to prison In New York and California, a GOP split screen on Trump Trump asks judge to terminate gag order in hush money case verdict GOP’s Biden-Manhattan conspiracy theory suffers a double blow James Comey says Donald Trump is 'begging for a jail term' with his personal attacks on Judge Merchan
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Pro-Trump allies charged in Wisconsin 2020 fake elector scheme Trio of Trump affiliates face years behind bars over felony fake electors charges
(DBN)

From Bad to Worse: Ex-Trump Attorney Kenneth Chesebro Hit With New Charge Trump Election Lawyer Ken Chesebro Is Really Beefing Up His Firsthand Knowledge Of State Criminal Procedure
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Proud Boys chapter leader accused of breaking fence to breach police lines on Jan. 6
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The Proud Boys are back: How the far-right group is rebuilding to rally behind Trump
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Paxton asks Texas Supreme Court to toss state bar sanctions over efforts to overturn 2020 election
(DBN)

Judge Cannon expands hearing on Trump’s request to declare special counsel’s appointment invalid Constitutional lawyers ask judge to let them back Jack Smith's power to prosecute Trump Trump valet's lawyer profusely apologizes to Mar-a-Lago judge for 'unintentional error'
(DBN)

Hunter Biden's request to remove trial evidence denied by judge Hunter Biden lawyers insisted jury must see 'doctored form,' but the judge was unmoved Hunter Biden may be seeking jury nullification rather than vindication Prosecutors open their case against Hunter Biden by playing his own voice for the jury Prosecutors question FBI agent as their first witness in Hunter Biden gun trial Joe Biden’s worries grow as Hunter Biden’s trial begins Hunter Biden’s Wife Goes Off at ‘Nazi Piece of S---’ Outside Courtroom 'An everyday part of the world': Trial puts spotlight on addiction Hunter Biden’s ‘crack superpower’ back to haunt him at trial Prosecutors say Hunter Biden was withdrawing large amounts of cash almost daily in 2018 Hunter Biden gun trial jurors shown infamous laptop first exposed by The Post in dramatic courtroom reveal Joe Biden told Hunter to ‘get some help’ in 2018 voicemail — three days after son allegedly lied to buy gun Hunter Biden's federal gun trial prosecutors say "the law makes no distinction for Hunter Biden" Hunter Biden's ex-wife, other family members expected to take the stand in his federal gun trial Takeaways from Day 2 of the Hunter Biden federal gun trial
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Garland "worried" about potential terrorist attack on U.S. after Oct. 7 Merrick Garland Schools Republicans On How The Actual Justice System Works Garland defends against GOP’s contempt threats: “I will not be intimidated” Garland calls outrage at DOJ over Trump New York verdict a 'conspiracy theory' Garland Rebukes Attacks on Justice Dept.
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FBI reinstates security clearance of agent who claimed whistleblower status
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Biden announces order limiting asylum at the southern border: Here’s what it will do In Shift, Biden Issues Order Allowing Temporary Border Closure to Migrants Biden Says Trump Left Him ‘No Choice’ as He Moves to Seal Border What Biden's new border action means for migrants Speaker Johnson rails against Biden’s ‘weak’ border executive order Hispanic, liberal Democrats bash Biden’s asylum cap Biden issues new executive action: Much of southern border to close at midnight Biden is alienating progressives yet again — but he may have no choice Biden pulls from Trump’s immigration playbook in election-year twist Congress’ early review of new Biden border plan: Almost no one is happy Border mayors, Democratic allies to join Biden as he announces asylum limits San Diego Is Once Again a Top Migrant Entry Point Immigration Measure Added to the Ballot in Arizona “Why now?”: Biden’s new immigration policy to limit asylum seekers faces quick criticism in Texas
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Ex-US soldier accused of ‘international crime spree’ extradited from Ukraine
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Travis County DA asks Texas Court of Criminal Appeals to reverse pardon for Daniel Perry
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The FBI Created Its Own Startup--and Used It to Stage a Massive Sting Operation
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Louisiana Passes Surgical Castration Bill for Child Molesters
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Juror excused after mystery woman left bag of cash at her home and explained why
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Argument over laser pointers leads to pregnant woman being killed in front of her family
(DBN)

Clown-masked murderer who shot father of 5 in motel parking lot is on the loose, cops say
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Officials reach $8.5 million settlement with woman who was left handcuffed in a police car
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Judges:

Alito’s Flag Controversy Foreshadows Contentious US Supreme Court Rulings
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Wall Street:

Stock futures rise ahead of private payrolls report
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Brace for a 10% slide in the S&P 500 as stagflation makes the Fed unlikely to cut rates, Stifel says
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Layoffs:

Paramount mulls job cuts as merger talks loom
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Healthcare:

A Hospital Bankruptcy Offers a Cautionary Tale on Private Equity
(DBN)

Bankruptcy judge greenlights Steward Health Care's asset sale timeline Steward secures green light for 31 hospital sale dates Where Optum's potential acquisition of Steward's 1,700-physician group stands Steward’s Top Execs Under Investigation by Several Parties Lawmakers seek trustee to replace Steward management
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A Financially Troubled Hospital Struggles With Patient Safety
(DBN)

The Growing Privatization of Medicare
(DBN)

The 3rd human case of bird flu in the US has 2 new and troubling symptoms
(DBN)

FDA Panel Rejects MDMA Treatments for PTSD
(DBN)

As obesity rates surge, so do cancer cases: Study
(DBN)

Fauci says ‘levels of vitriol’ in House hearing ‘really quite unfortunate’
(DBN)

Patient’s Dark Fantasy About Aetna Lands Him in Jail
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Crypto:

Crypto billionaire Michael Novogratz's firm has tokenized a 316-year-old violin owned by Catherine the Great in order to back a loan
(DBN)

FTX wants to pay the IRS $200 million instead of $24 billion in tax liabilities FTX Resolves $24 Billion IRS Tax Claim with $885 Million Settlement
(DBN)

FTX Urges US Judge to Halt Lawsuits to Protect $16B Customer Repayment
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Climate:

Inside von der Leyen’s secret climate crusade
(DBN)

When Hydropower Runs Dry
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Triple-digit temperatures to hit Southwest in early-season heat wave First heat wave of season for western US to increase wildfire danger
(DBN)

Banks Told to Brace for ECB Fines After Mismanaging Climate Risk
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Experts Fear Horrifying Heat Waves that Could Kill Tens of Thousands of People at Once
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Sports:

Sports Broadcaster Diamond Is Near Its Breaking Point, Pro Leagues Say NBA, NHL voice concerns over future of Diamond Sports, as it tries to craft post-bankruptcy plan
(DBN)

Cable viewers unlikely to see Twins on Bally Sports North anytime soon
(DBN)

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Economy:

Majority of Middle-Class Americans Say They Struggle Financially
(DBN)

BLS: Job Openings Decreased to 8.1 million in April
(DBN)

Bond Traders Pile Into Fresh Bets on Faster Pace of Fed Cuts
(DBN)

The Dollar Is at Its Strongest Since the 1980s. Can It Last?
(DBN)

The 15 companies US business students most want to work for
(DBN)

Real GDP Growth by Region
(DBN)

The Easy Fix to Social Security Nobody Wants to Talk About
(DBN)

Ray Dalio Touts US Elections, China Conflicts as Global Risks
(DBN)

Dramatic Rise in Geopolitical Risk in Focus at HK Wealth Forum
(DBN)

Biden's new immigration order could tighten labor markets, but ease supply chain bottlenecks
(DBN)

City sued for paying hundreds of Black residents $25,000 in reparations
(DBN)

YOLO is dying. That could be bad news for the economy
(DBN)

America’s Commute to Work Is Getting Longer and Longer - WSJ
(DBN)

The 5 states with the best economies in the U.S. — and the 5 worst
(DBN)

US Business Will Regret Writing Off Democracy
(DBN)

US Debt Clock
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World Debt Clock
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Real Estate:

CoreLogic: US Home Prices Increased 5.3% Year-over-year in April
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Home prices could drop for the next 6 months as inventory rises by the biggest margin since the financial crisis, investment strategist says
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Asking Rents Mostly Unchanged Year-over-year
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Nonbank Hometown Lenders files for bankruptcy
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Lender retakes control of Capella Tower in downtown Minneapolis
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Landmarked NoMad Building Bought Out of Bankruptcy for $65M
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Madison Avenue’s ‘Le Penthouse’ Owner Files for Bankruptcy
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Municipalities:

Puerto Rico primary brings political change, but Oversight Board remains
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Boomtown in red state explodes by nearly 100 people per day
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San Francisco's business hub is deserted with eerie footage showing boarded up shops, for lease signs and empty sidewalks
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Oil/Gas:

All-electric commitment will now play out 'over decades,' GM GEO says GM's Mary Barra is going all in on EVs
(DBN)

Oil Holds Near Four-Month Low on Signs of Rising US Stockpiles
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Despite Texas’ “aggressive” well-plugging program, there’s still a backlog of orphaned oil and gas wells
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Tech:

OpenAI employees are demanding change. Here are the 4 things they want OpenAI insiders' call: Protect AI whistleblowers OpenAI Insiders Warn of a ‘Reckless’ Race for Dominance
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The scary secret behind the boom in data centers
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Emails show Elon Musk diverted a $500 million shipment of Nvidia chips intended for Tesla to X instead
(DBN)

TikTok Influencers Are Trying to Cure Baldness with Laxative
(DBN)

Vinod Khosla, Marc Andreessen And The Billionaire Battle For AI's Future
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Hack That Crippled London Hospitals Is Only the Latest to Hit UK
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Politics:

The $64 million mystery: How a wave of anonymous donations is fueling the 2024 presidential campaign
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Colorado Republican Party issues call to burn all Pride flags
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House Democrats push birth control vote in pressure campaign on GOP
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House Votes to Impose Sanctions on I.C.C. Officials Over Israel Prosecution
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Comer says GOP seeking evidence of Fauci’s ‘criminal wrongdoing’
(DBN)

House Republicans tee up Biden payback plan for Trump
(DBN)

Curtis Bashaw defeats Trump-endorsed NJ candidate to win GOP Senate nod
(DBN)

‘Lock Her Up’ Was Not Just a Slogan FactCheck: Speaking about Hillary Clinton: “I didn’t say, ‘Lock her up.’ ”
(DBN)

'Enemy within': Trump rhetoric rings alarm bells
(DBN)

33% of GOP Think Trump is Wrong Candidate
(DBN)

Biden calls Trump ‘convicted felon’ as he sharpens attacks on campaign trail
(DBN)

Behind Closed Doors, Biden Shows Signs of Slipping
(DBN)

‘We Are the World Power.’ How Joe Biden Leads
(DBN)

In Red Montana, Two Democrats Take a New Political Approach: Attack
(DBN)

How 1980s Yuppies Gave Us Donald Trump
(DBN)

RNC website featured image of Ho Chi Minh City instead of Milwaukee
(DBN)

Online Betting: Who will win the 2024 US presidential election?
(DBN)

‘I Couldn’t Tell the Lie’: Former Republican Congressman Ken Buck Tells Jon Stewart Why He Left Congress
(DBN)

RFK Jr.'s Popularity Has Collapsed
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Food/Beverage:

Flavor Flav Ordered the Full Red Lobster Menu in an Attempt to 'Save the Cheddar Bay Biscuits' Following Bankruptcy
(DBN)

Red Lobster Owner Lowers Bond Coupon Rates by Meeting ESG Goals
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Oyster Hut founder hit with restraining order in Turkey Leg Hut bankruptcy case
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Ride Hailing:

All Hail Phoenix: America’s King of the Robo-Taxi - WSJ
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Celebs:

Shilo Sanders files for bankruptcy: Colorado DB's debt stems from allegedly assaulting security guard in 2015
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Trucking:

Heavy Truck Sales Unchanged in May
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Fraud:

Threatening texts surface to sink bail chances for alleged fraudster, Roglieri
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Nursing Homes:

Nearly half of PA nursing home operators plan to close or sell at least one facility, signaling worsening trend
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (35 new filings today)
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Recent Ch. 11/9/12/15 Adversary Proceeding Filings (5 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

Bankruptcy filings rise as consumers struggle with credit card debt and more
(DBN)

May Small Business Filings Increase 53 Percent Over the Same Period Last Year Total Filings Up 16%
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Disqualification:

Professor Nancy Rapoport on Recent Disqualification Decisions
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Trustees:

Expanded Abandoned Plan Program Gives Certain Bankruptcy Trustees QTA Eligibility, Adopts Other Technical Changes
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Mediation:

Mandatory Mediation Orders Are Within A Court’s Inherent Power (In re Atlantic Pipe)
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Aviation:

Airfares Set to Moderate, at Least in Economy Class, CEOs Say
(DBN)

SAA reaches a settlement with US over massive fine
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Meme Stocks:

Keith Gill scored a one-day gain of $79 million after disclosing his GameStop stake on Reddit
(DBN)

How Roaring Kitty’s wealth went from $53,000 to nearly $300 million — and could one day top $1 billion
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Retailing:

‘This is insane!’: Small business owner says popular clothing chain Francesca’s owes her over $132,400. She’s not the only one
(DBN)

Do you return your shopping cart? A psychologist's answer on TikTok enraged thousands
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Education:

University of the Arts President Resigns After School Announces Closure
(DBN)

Protesters Want Charges Dropped. What Is the Right Price for Civil Disobedience?
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This Is The Actual Campus Censorship The Free Speech People Should Be Worried About
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Edtech:

Byju’s Creditors Petition to Put More Units in US Bankruptcy
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Student Debt:

Middle-class Gen Xers are facing a new retirement challenge: their student loans
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Personal Finance:

How a peak boomer who moved from Texas to a tiny home in New York lives 'perfectly comfortably' on less than $30,000 a year
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I 'escaped' Texas for Tennessee. I loved the food and tech scene, but got tired of the heat and rising property taxes.
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Agribusiness:

Republicans want to put pigs back in tiny cages. Again.
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Autos:

Tesla 'graveyard' photo shows major shift in Aussie EV market
(DBN)

Ron Baron, big Tesla shareholder, supports Elon Musk’s $56 billion pay package
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Non-Profits:

Judge to consider petition for bankruptcy trustee for 4RUN3
(DBN)

NRA Hires NYU Law Professor for Next Stage in Court Fight
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UK:

London hospital services hit by ransomware incident
(DBN)

BBC Breakfast's Charlie Stayt 'facing bankruptcy' following HMRC petition in huge blow to broadcaster
(DBN)

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EU:

ECB’s Inflation Challenge Looks More and More Like the Fed’s
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Canada:

P.E.I. oyster growers frustrated, facing bankruptcy as Fiona claims drag on
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Ireland:

New protections proposed for employees of insolvent employers
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MENA:

Some Gazans Call on Hamas to Accept Cease-Fire Proposal, But Remain Skeptical
(DBN)

Biden: "Every reason" for people to conclude Netanyahu is prolonging war in Gaza Netanyahu strains to keep government together amid spreading rebellions Hamas Rejects Gaza Peace Plan Without Permanent Cease-Fire
(DBN)

The Man Who Tried to Save Israel From Itself
(DBN)

Hamas may have moved hostages to Egypt via tunnels, ex-IDF deputy chief says
(DBN)

Israel’s top court discusses closure of desert detention camp for Gaza detainees after investigation detailing abuses
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India:

Indian stocks post their biggest losses since the pandemic after Modi fails to win a landslide India’s Stock Market Tumbles on Close-Run Election Result Modi claims a historic third term — but it hangs in the balance Shocking Indian election results are a crushing blow to Modi John Oliver warns India is 'sliding towards authoritarianism' as Modi declares victory in tighter-than-expected election Modi thought he would smash the polls. Now he has to answer to a group of kingmakers Jamie Dimon probably isn't too happy about how the Indian election went Indian Stock Futures Rise After Rout as Modi Vows to Hold Power Modi’s Election Setback Only a Blip for Some Global Stock Funds
(DBN)

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Russia:

Ukraine sent special forces to Syria to attack Russians there, revealing a new front to the war: report
(DBN)

Ukraine has "freaking decimated" Russia's military, Biden says
(DBN)

Putin suffers back-to-back deadliest days in Ukraine with ‘2,600 troops wiped out’ in just 48 hours
(DBN)

Russia Gets Its First Criminal Gang Made Up of Ex-Wagner Mercs
(DBN)

Ukraine hints it used Western weapons to strike inside Russia after Biden's green light Ukraine claims it hit missile system inside Russian territory using Western weapons
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China:

China South City Trustee Sues State-Owned Keepwell Provider
(DBN)

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Germany:

Investment plan fails to save Germany’s FTI Touristik from insolvency
(DBN)

Police raid 'Reichsbürger' sites amid coup trial
(DBN)

Far-right AfD appears as strongest German party on TikTok
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