March 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:

New Reed Smith pay structure sorts associates into ‘the A squad and the B squad,’ blog says
(DBN)

Welcome To The 'Kirklandization' Of Biglaw, Partners!
(DBN)

Law School Hires First Woman Dean In Its Nearly 100-Year History
(DBN)

Lewis Brisbois accused of failing to recognize ‘draconian lending terms,’ conspiring to cover up mistakes
(DBN)

AI Won’t Replace Lawyers -- But It Will Change How They Work
(DBN)

AI’s legal revolution
(DBN)

Judge overseeing NY hush money trial imposes gag order on Trump 'The court is unpersuaded': Judge slaps Trump with gag order in hush money criminal case Hush money judge warns Trump’s lawyers to abide by rulings Trump lashes out at judge in hush money case after trial date set 'Cannot get a fair trial': Trump again demands indefinite delay in hush money case Judge in hush money case loses patience with Trump's attorneys over pretrial motions
(DBN)

Trump lawyer Alina Habba spotted celebrating 40th birthday in St. Barts Alina Habba Desperately Grasps At Any Semblance Of Success
(DBN)

Trump Official Accused of DOJ ‘Coup’ Plot in Bar Hearing Former Trump DOJ official Jeffrey Clark fights to save law license as disciplinary trial begins
(DBN)

MyPillow founder's attorneys bail as he fights $5M 'Prove Mike Wrong' challenge award Mike Lindell Begs 8th Circuit To Void Check His Mouth Wrote That His Ass Can't Cash Judge evicting MyPillow from a warehouse over unpaid rent
(DBN)

Trump's Dumbest Assets
(DBN)

Trump co-defendant in Georgia RICO case allowed to argue Fani Willis overstepped authority
(DBN)

Billionaires sought to help fund Trump bond in civil fraud case, sources say 'White wealthy privilege': Trump's lowered bond 'bail out' spurs widespread outrage When will Trump pay his $175 million appeals bond? Here’s what’s next in his civil fraud case
(DBN)

Texas AG Ken Paxton reaches deal to end securities fraud charges after 9 years 9 Years Later, Ken Paxton Makes A Deal With Prosecutors Ken Paxton Escapes Felony Securities Charges in $271,000 Deal Texas AG Ken Paxton required to take ethics classes as part of securities fraud deal
(DBN)

Sean 'Diddy' Combs faces sweeping sex-trafficking inquiry: What the feds have, need to prove Prince Harry Named in Blockbuster Diddy Sex Trafficking Lawsuit Man alleged to be Diddy’s ‘mule’ busted for drugs in Opa-locka as rap mogul’s homes raided Sean ‘Diddy’ Combs has been untouchable for decades — but now people are out to ‘take him down’: source Sean ‘Diddy’ Combs blasts feds’ ‘military-level force’ during raid of his homes, calls investigation a ‘witch hunt’ Ex-Syracuse basketball player allegedly was Sean ‘Diddy’ Combs’ drug mule ‘No Doubt’ P. Diddy Will Face Sex Trafficking Charges: FBI Agent Everyone Named in P. Diddy’s Sex Abuse Lawsuits — Full List
(DBN)

Man arrested for allegedly taking leg after California train incident and 'eating it'
(DBN)

Judge temporarily blocks Texas AG from investigating nonprofit supporting transgender minors
(DBN)

Sacramento council to consider making Sacramento a transgender sanctuary city
(DBN)

Criminal charge against nurse DA said ‘violently slammed’ newborn in ICU dismissed as trial was about to begin
(DBN)

NYC begins handing out prepaid debit cards to migrants in controversial program
(DBN)

Mom fatally shoots teen daughter while rummaging in purse for keys
(DBN)

Man sues lawmaker after being wrongfully named as shooter at Chiefs parade
(DBN)

5th Circuit rules for prisoner allowed to sleep no more than 3.5 hours per night
(DBN)

______________

Judges:

Judiciary ‘has no power to unimpeach,’ federal judge says while citing Dr. Seuss
(DBN)

Judge Aleta Trauger Opened Doors for Women in Law
(DBN)

The next Clarence Thomas? Abortion pill case spotlights rightwing judge and his wife’s shadowy connections
(DBN)

______________

Wall Street:

Stock futures rise after S&P 500 notches three-day losing streak Futures recover; focus shifts to Fed officials' comments
(DBN)

Stock market seeing one of strongest 1st quarters of postwar era
(DBN)

______________

Layoffs:

Canada Goose to cut 17% of its corporate workforce, following string of retail layoffs
(DBN)

300+ to be laid off at John Deere in Waterloo
(DBN)

Bristol Myers Squibb cuts hundreds of Mirati staffers
(DBN)

Yakima school board approves plan to lay off more than 100
(DBN)

Britain's Co-op Bank plans 400 layoffs
(DBN)

Dell reduces its global workforce by about 6,000 jobs
(DBN)

McKinsey Piles ‘Up or Out’ Pressure on Some US Consultants
(DBN)

UK Stands to Lose 8 Million Jobs From AI, Analysis Warns
(DBN)

______________

Tech:

Inside the shadowy global battle to tame the world's most dangerous technology
(DBN)

Mnuchin tried to force a sale of TikTok. Now he’s a possible bidder. Woz: TikTok Ban is Government Hypocrisy
(DBN)

Chatbot letdown: Hype hits rocky reality
(DBN)

Truth Social faces harsh reality as a public company
(DBN)

Educators divided over AI's impact
(DBN)

____________

Politics:

Trump Goes on Bizarre Rant About ‘CROOKED JOE BUDEN’ Who ‘DISINFORMATES AND ‘MISINFORMATES’ About Obamacare
(DBN)

Why the 2024 election is about far more than Trump’s legal nightmare
(DBN)

Records confirm Trump’s mother-in-law came to U.S. through process he derided
(DBN)

Trump is selling $60 Bibles with ‘God Bless the U.S.A.’ singer Lee Greenwood "We must make America pray again:" Trump now selling Bibles
(DBN)

Biden gains on Trump in 6 battleground states in new poll
(DBN)

A controversial Supreme Court decision could hurt Biden in November
(DBN)

The Biden Campaign Is Quietly Preparing a Trump Ambush
(DBN)

Robert F. Kennedy Jr. picks tech entrepreneur Nicole Shanahan as his vice president 55 Things You Need to Know About Nicole Shanahan RFK Jr. names wealthy lawyer as running mate for U.S. presidential bid
(DBN)

House Dems push for hearing on Kushner business deals
(DBN)

Biden campaign: Trump doesn’t want Haley voters
(DBN)

Federal officials say 20 have been charged for threatening election workers
(DBN) R

NC staffers and new hires asked whether they believe the 2020 election was stolen
(DBN)

Alabama Democrat flips state House seat after campaigning on IVF, abortion access
(DBN)

____________

Banking:

S&P Global downgrades outlooks on five regional US banks to 'negative'
(DBN)

Fears About Geopolitics at Record High in BOE Survey of Banks
(DBN)

Banks' Massive Debt Splurge Brings Its Own Set of Dangers
(DBN)

____________

Maritime:

The ‘No-Fail’ Mission to Protect the Red Sea Isn’t Working
(DBN)

____________


Economy:

Biden, Democrats (mostly) ditch "Bidenomics"
(DBN)

Warren Buffett Says, 'The Poor Are Most Definitely Not Poor Because The Rich Are Rich' — And Thinks The Government Should Help
(DBN)

Francis Scott Key Bridge collapse ‘will spark US food & car supply issues & strengthen calls to cut foreign imports’ 4 big unknowns after the Baltimore bridge collapse Biden vowed to pay for rebuilding Baltimore's collapsed bridge. Here's how that could work US automakers rerouting ships from Baltimore following bridge collapse East Coast ports brace for fallout from Baltimore bridge collapse 6 people unaccounted for after cargo ship crash destroys Baltimore bridge Unfounded conspiracy theories spread online after Baltimore bridge collapse Why the Baltimore Key Bridge crumbled so spectacularly after it was hit by cargo ship Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice Recent Bridge Collapses Raise Questions About Modern Shipping Lost power, a mayday call and the crash that brought down a Baltimore bridge Utah lawmaker blames DEI for Baltimore bridge collapse despite cargo ship collision Container ship that destroyed Baltimore bridge has a troubled history Titanic Law Helps Ship Owner Limit Liability in Bridge Collapse
(DBN)

BlackRock’s Larry Fink says young people have a lot going for them, but retirement crisis looms
(DBN)

The salary a single person needs to live comfortably in 25 major U.S. cities
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

Case-Shiller: National House Price Index Up 6.0% year-over-year in January Comments on January House Prices, FHFA: House Prices Declined Slightly in January A few comments on the Seasonal Pattern for House Prices
(DBN)

Home Sales Collapse in Several States US new home sales fall; median price lowest in more than 2-1/2 years
(DBN)

Adam Neumann’s bid to buy back WeWork faces uphill battle due to financing challenges
(DBN)

FL: Celebration Pointe files for bankruptcy
(DBN)

____________

Oil/Gas:

US Now producing more oil and gas than any nation ever has
(DBN)

8 states planning to ban sale of gas-powered cars entirely
(DBN)

List of orphan oil and gas wells swells to more than 1,000 in Colorado as small operators abandon the state
(DBN)

Texas Firms Race to Develop Hydrogen as Fuel
(DBN)

Volvo Car Just Made Its Last-Ever Diesel Vehicle
(DBN)

____________

Media:

NBC 'drops' former RNC chair Ronna McDaniel as paid contributor less than a week after role was announced Ronna McDaniel quickly demonstrates that her view isn’t worth the cost Rachel Maddow Calls NBC Decision to Hire Ronna McDaniel “Inexplicable,” Compares Her to Mobster Trump demands NBC fire Chuck Todd in retribution for dropping Ronna McDaniel
(DBN)

____________

Healthcare:

A ‘bait and switch scheme?’ New court filing slams Madera hospital reopening plan
(DBN)

Justices appear skeptical of call to restrict abortion pill Supreme Court justices appear deeply skeptical 13 activists arrested ahead of Supreme Court abortion pill hearing Supreme Court signals it is likely to reject a challenge to abortion pill access Abortion pill case at Supreme Court hinges on 'conscience objections' Gorsuch unconvinced doctors who claimed abortion pill is 'emotionally taxing' can sue FDA Justices Barrett and Kavanaugh overturned Roe v. Wade. Why they may save access to the abortion pill Takeaways from the Supreme Court arguments over the abortion drug mifepristone A fast-moving argument over medication abortion
(DBN)

New York officials find Beth Israel Hospital violated cease-and-desist order amid closure
(DBN)

Trans man transitioned, detransitioned then transitioned again
(DBN)

Surprise medical bill law has been good for providers
(DBN)

More states are adding protections against big ambulance bills
(DBN)

____________

Gambling:

Mega Millions player wins $1.13B jackpot — fifth largest in lottery’s history
(DBN)

____________

Trucking:

Teamsters Win Against Yellow Corp. in Court, Judge Shoots Down Company’s Frivolous Lawsuit
(DBN)

____________

Autos:

Where Fisker went wrong: Once seen as a strong EV challenger, the automaker has now been delisted and is on the brink of bankruptcy Fisker Delisted After Partnership Talks Collapse, Could Be the Last Nail in the Coffin
(DBN)

____________

Credit Cards:

Visa and Mastercard agree to $30 billion settlement that will lower merchant fees The Proposed Credit Card Interchange Settlement
(DBN)

____________

Nursing Homes:

Operator of 90 Nursing Homes Files for Bankruptcy
(DBN)

____________

Fraud:

An ‘Irish Heiress’ Conned Him. He Started a Podcast to Track Her Down.
(DBN)

Pickleball business owner claims to owe $47M. What happened to investors' money?
(DBN)

____________

Crypto:

FTX creditors claim their ‘Sam Coins’ aren’t worthless—and are asking a bankruptcy judge to overrule the company’s own valuation FTX Pushes To Nullify Value Of 'Sam Coins' Amid Bankruptcy Proceedings FTX Lawyers Want SBF Coins to Be Liquidated at Discounted Value
(DBN)

Sam Bankman-Fried faces sentencing this week. Here’s what to expect How Sam Bankman-Fried's Sentencing Hearing May Play Out
(DBN)

The Crypto Reboot That Wasn’t: Why ‘FTX 2.0’ Floundered
(DBN)

The Crypto World Has a New Villain
(DBN)

Crypto Hit by $63 Million Hack of ‘Munchables’ Game in One of Year’s Biggest Exploits
(DBN)

Crypto Firm KuCoin Flouted Anti-Money Laundering Rules, US Says
(DBN)

____________

Retailing:

Rite Aid reaches bankruptcy settlement with lenders, DOJ, McKesson Rite Aid Nears Sweeping Creditor Deal to Avoid Liquidation
(DBN)

____________

Food/Beverage:

Below the Surface, Chick-fil-A's Big Announcement Is Much Deeper Than a Broken Promise
(DBN)

____________

Religion:

Religious service attendance, mapped
(DBN)

____________

Tax:

IRS Has 940,000 Unclaimed 2020 Tax Refunds
(DBN)

____________

Tires:

Investigation: Tire manufacturer Goodyear faces global blowout scandal
(DBN)

____________

Labor:

Workers of 34 Hotels to Receive $10/Hr Wage Increase
(DBN)

____________

Education:

Arlington ISD faces 275 layoffs with COVID-era ESSER grants coming to an end
(DBN)

____________

 


New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (22 new filings today)
(DBN)

Recent Ch. 11/9/12/15 Adversary Proceeding Filings (8 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

About 44% of Chapter 11s are Subchapter V Cases
(DBN)

______________

Setoffs:

With Updated Interpretation in Zezas Ruling, The Times They Are A-Changin’
(DBN)

____________

Sales:

The Fifth Circuit Joins the Eighth and Ninth Circuits in Holding that Avoidance Actions are Estate Property that may be Sold Pursuant to Section 363 of the Bankruptcy Code
(DBN)

____________

UST:

Bankruptcy Abuse Rarely Works . . . Because Of Gatekeepers—U.S. Trustees (Part 3)
(DBN)

____________

LLCs:

Texas Bankruptcy Court: Debtor's Non-Economic Rights Under LLC Agreement Are Estate Property Protected by Automatic Stay
(DBN)

____________

Cannabis:

Recent Bankruptcy Court Decision Leaves the Door Open to Bankruptcy Relief for Those in the Cannabis Industry
(DBN)

____________

Mass Torts:

Louisiana Legislature opened window for sex abuse survivors to sue, but state’s high court shut it
(DBN)

Alex Jones, Infowars Bankruptcies Set to Speed Up With Mediator
(DBN)

____________

Examiners:

Third Circuit: Bankruptcy Court Lacks Discretion to Deny Examiner Appointment Motion in Large Chapter 11 Cases
(DBN)

____________

Cross-Border:

A Commitment Rule for Insolvency Forum
(DBN)

Singapore International Commercial Court Issues First Decision on Recognition of Cross-Border Bankruptcy Cases under Model Law
(DBN)

____________

Turnarounds:

Mastering Pivots & Turnarounds: #1 Lesson From Under Armour, Hertz & Apple
(DBN)

____________

Plan Confirmation:

Changes to Confirmed "Toggle" Chapter 11 Plan Required No Additional Disclosure and Voting Where Creditors' Rights Not Materially and Adversely Affected
(DBN)

Keeping It in the Family: Bankruptcy Court Discusses Factors for Application of New Value Exception to Absolute Priority Rule
(DBN)

____________

Aviation:

Boeing’s embattled CEO is poised to walk away with millions
(DBN)

____________

Sovereigns:

Zambia’s Debt Workout Shifts Back to China After Bondholder Pact
(DBN)

____________

UK:

Restructuring Plans and Tax Liabilities: A More Assertive HMRC
(DBN)

Individual Insolvencies by Location, Age and Gender, England and Wales, 2023
(DBN)

Adler: English Court of Appeal Overturns Restructuring Plan
(DBN)

Debt arising under unrecognized foreign judgment sufficient to found English bankruptcy proceedings
(DBN)

Directors’ Duties Post-Sequana: More Light at the End of the Tunnel?
(DBN)

Junk Bond Sales in Sterling Surge at Fastest Pace Since 2021
(DBN)

BOE Says Commercial Real Estate Poses Risk to Stability
(DBN)

____________

EU:

Altice Debt Pain Threatens to Cause Chaos for Fragile CLO Market
(DBN)

____________

MENA:

Top Biglaw Firm Opens Its Own Office In Saudi Arabia Ahead Of Major Merger
(DBN)

Bowman reverses after calling reports of Oct. 7 sexual assaults in Israel ‘propaganda’
(DBN)

Israel’s largest land seizure since Oslo Accords deals fresh blow to Palestinian statehood
(DBN)

Biden reacts to pro-Palestinian protesters: 'They have a point' Biden faces bipartisan backlash over UN ceasefire vote Netanyahu provoking crisis with White House for domestic politics: U.S. officials
(DBN)

As Israel's politicians squabble, some soldiers voice their anger
(DBN)

UN rights expert report to call for Israel arms embargo over ‘acts of genocide’
(DBN)

The data is clear: Israel-Hamas war hurt Ukraine in DC
(DBN)

Israeli forces' hospital raid highlights Hamas' return to areas IDF says it has cleared
(DBN)

Hezbollah Fires Rocket Barrage in Escalating Battle with Israel
(DBN)

Released hostage: 'I was forced to commit sexual acts with a gun pointed at me'
(DBN)

____________

Russia:

Fears Putin could twist ISIS massacre in Moscow to execute 4,000 Ukrainian prisoners by bringing back death penalty
(DBN)

Ukraine destroying Musk’s Starlink systems being used by Russia
(DBN)

____________

Mexico:

Mexico suit against AZ gun dealers can proceed, judge rules
(DBN)

____________

Japan:

Yen Drops to Lowest Since 1990
(DBN)

____________

China:

Too late, China wakes up to the threat from within
(DBN)

China’s Xi meets U.S. executives as businesses navigate bilateral tensions
(DBN)

Bondholder group 'firmly opposes' China developer Shimao's debt revamp proposal
(DBN)

____________

Sweden:

H&M shares jump 14% as profit smashes expectations
(DBN)

____________

South Korea:

Crushing blow for HK01 founder
(DBN)

____________

Germany:

German Economy to Stay Stuck Around Pre-Covid Level in 2024
(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