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May 2, 2024

The Daily Bankruptcy News

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Law:

Biglaw Partners Had A Very Profitable 2023
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Billing Rate Increases, Demand Gains Help Law Firms Double Their Revenue Growth in Q1
(DBN)

Another Biglaw Firm Gets Serious About In-Office Attendance
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Minnesota bankruptcy law firm files for bankruptcy after losing fight with another bankruptcy firm
(DBN)

Welcome To Biglaw: Brand New Megafirm A&O Shearman Officially Makes Its Debut A&O Shearman Goes Live, With New Firm Naming Board and Practice Leaders
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The Top Law Schools For Getting Jobs At Top Biglaw Firms
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Judge Asks to See Musk Lawyer Spiro on Unlicensed Practice Claim
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Chula Vista Bankruptcy Attorney Sanctioned for Real Estate Nondisclosures
(DBN)

District attorney ‘humbled by my own stupidity’ after failing to stop for police, calling officer name
(DBN)

Brooklyn Lawyers Are Helping People Get Suited For Reentry
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Finals Postponed At Columbia Law Due To Ongoing Protests Columbia Law School Offers Pass/Fail Grading Amid Gaza Protests
(DBN)

Inside the Trump campaign's game of trial Tetris Trump Slams Judge After Gag Order Fine Trump thinks his lawyer is insufficiently aggressive toward the judge, jury, and witnesses Trump Decries Lack of Law and Order in New York Hours After Leaving His Criminal Trial in New York Trump quickly fundraises off judge's contempt ruling in hush money case Trump returns to his campaign facing a warning of jail time if he violates a trial gag order Witnesses line up to slam Michael Cohen ahead of Trump trial star’s turn Stormy Daniels' lawyer didn't give prosecutors fireworks. That will help them. Davidson says he thought Trump or one of his companies, not Michael Cohen, were true source of hush money to Stormy Daniels The many campaign finance violations divulged in Trump's hush-money trial Trump’s Trial Can Right a Wrong From 50 Years Ago Lawyer for Stormy Daniels Exposes Seamy Underside of Celebrity Binoculars in hand, reporters go Trump-spotting at New York trial
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Any Lawyer Who Followed Trump’s Advice Would End Up in Jail
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JD Vance says he is ‘skeptical’ Pence’s life was in danger on Jan. 6
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Elise Stefanik Demands To Speak To DOJ Manager About Special Counsel Jack Smith
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‘The constitution doesn’t even mention immunity’: Judge Luttig reacts to Trump Immunity claim
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Mar-a-Lago judge sets new hearing over grand jury matters in ongoing redaction battle Prosecutors release less-redacted version of Mar-a-Lago search warrant affidavit Cannon reminds Trump to redact witness names in docs on heels of contempt ruling in NY
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'Antifa instigated the violence': Judge grants bail to alleged white supremacist
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Trump confirms he wanted to go to Capitol on Jan. 6
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Trump tees off on ‘bulls---’ legal cases at Michigan rally
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The First Law Of Whoever Smelt It, Dealt It
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Judge rejects Eastman bid to retain law practice while fighting disbarment
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Law Firm Defending Trump Seeks to Withdraw From a Long-Running Case
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Judiciary Republicans zero in on top prosecutor in Trump hush money case
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Rudy Giuliani's Credit Card Reveals 'Unauthorized Payments': Court Filing In Bankruptcy, Giuliani Set a $43,000 Monthly Budget. Creditors Are Skeptical. Giuliani’s Spending: $43,000 a Month and a Lot of Credit Card Bills
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Chesebro texts obtained in fake elector scheme investigation expose pleas to Trump allies
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Prosecutors seek September retrial for Harvey Weinstein after rape conviction was tossed Harvey Weinstein retrial could begin after Labor Day following overturned rape conviction
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NAACP calls for federal investigation after Black man dies telling police ‘I can’t breathe’
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Asian Americans fear hate crimes are rising Southeast Asian Americans face the brunt of racist attacks among Asians in U.S., new study finds
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Texas Is No Longer the Hotspot for Illegal Migrant Crossings House GOP, 13 Dems rebuke Biden on immigration
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Arizona’s Democratic leaders make final push to repeal 19th century abortion ban Arizona Senate repeals 1864 abortion ban Partisan gap on abortion ‘larger than ever:’ Analysis Americans widely opposed to decision overturning Roe nearly 2 years later: Poll Florida, Arizona illustrate complicated abortion landscape Harris and Biden both blame Trump on abortion. How they do it is very different Some North Carolina abortion pill restrictions are unlawful, federal judge says
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Man charged with fried chicken attack on sister
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P. Diddy Tried Buying Singer’s Silence Ahead of Trafficking Investigation: Report
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Kindergarten boy may pursue sex-bias claim after expulsion for wearing earrings, 10th Circuit says
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OH: Pastor Charged for Helping Homeless Again
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Georgia governor signs bail fund restrictions Georgia governor signs controversial Republican-backed bill requiring cash bail for more offenses
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Judges:

Kirkland Moves to Toss Suit Tying It to Texas Judge Romance
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Supreme Court Justices Aren't The Only Ones Failing To Report Lavish Trips
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Chemerinsky: SCOTUS winds up term with rulings expected on major cases about government power, accountability
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Wall Street:

 

US stocks end mostly lower in volatile reaction to Fed
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Stock Market: Biden vs Trump
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Layoffs:

Google lays off hundreds of ‘Core’ employees, moves some positions to India and Mexico
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Akili Cuts 46% of Staff, Explores Strategic Options
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Tesla’s Head of Human Resources Exits as Staff Upheaval Spreads Tesla fires employee who ‘slept in parking lot’ during layoffs slashing 10% of staff Tesla may try to rehire some of the employees it laid off A Tesla supplier says Elon Musk's Supercharger layoffs were 'a sharp kick in the pants' Tesla revoked internships weeks before start date, students say
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Education:

Israel supporters attack pro-Palestinian camp in LA, 300 Gaza protesters arrested in New York Columbia goes remote after campus arrests Columbia Faculty Horrified by Mass Arrests Outsiders 'co-opting' Columbia protests: Officials CNN host presses NYC mayor on claims of ‘outside agitators’ at student protests New York City mayor continues to blame outside agitators for Columbia unrest, but offers little evidence Eric Adams Seizes Role as Face of the Crackdown on Student Protests Columbia Said It Had ‘No Choice’ but to Call the Police College admins have blown it Text of April 30 Letter From Columbia’s President to N.Y.P.D. Columbia Asks N.Y.P.D. to Stay on Campus Through Middle of May Trump says police clearing Columbia protesters was ‘a beautiful thing to watch’ Iran university offers scholarships to US students expelled over Gaza protests New York City Warned of 'Radicalization' Infiltrating City Hundreds of protesters arrested at college campuses across the U.S. Jack Dorsey Backs Columbia Protestors, Slams Cops, Trump and Biden Over ‘Fascistic’ Crackdowns What the First Amendment Means for Campus Protests Northwestern University’s Deal With Student Protesters Offers Example of Successful Negotiations Crackdowns and concessions: Student protests enter new phase Police enter UCLA after counter-protesters target pro-Palestinian encampment UCLA anti-Israel protesters push out police from encampment after unsuccessful raid 'Unacceptable': Why it took hours for police to quell attack at UCLA pro-Palestinian camp Frustration and accusations follow a violent night at U.C.L.A. U.C.L.A. Declares Encampment Illegal, Says Protesters Should Leave Boebert, Donalds spar with protesters at George Washington Lauren Boebert got into a scrap with pro-Palestine protesters over a flag after she was heckled with chants of 'Beetlejuice' House Republicans to grill D.C. officials on GWU encampment Mapped: Where pro-Palestinian student protesters have been arrested Democrats enter panic mode as Gaza protests erupt Brown protesters disband camp after reaching agreement with university UCLA cancels classes after night of violence In a Portland Library, Activists Fortify for a Standoff ‘Jews In LA Have Had Enough!’ UCLA Student Tells Fox Counter Protestors That Broke Up Pro-Palestine Encampment Were NOT Students High-ranking NYPD cops toss Palestinian flag, hoist American flag at City College Pro-Palestinian And Pro-Israel Protesters Unite To Chant 'F*** Joe Biden' Biden faces pressure from Republicans to speak out on college protests 14 Protesters Are Arrested at Tulane After Police Clear Encampment Police make arrests at UW-Madison during pro-Palestinian protests Some Gazans Say U.S. Campus Protests Give Them ‘Hope’ It’s Not Just Gaza: Student Protesters See Links to a Global Struggle 17 pro-Palestinian demonstrators arrested at UT-Dallas as police break up encampment Columbia's student radio station was the main source of information for the protests. Here's why that matters Columbia protesters' demands have worked before. This time may be different.
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Experts fear ‘catastrophic’ college declines thanks to botched FAFSA rollout College decision day passes many students by as financial aid delays linger
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Cannabis:

Biden gives cannabis industry a badly needed win
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Healthcare:

Without Florida safe haven, abortion seekers stare down a new reality As Florida's six-week abortion ban starts, here's how providers are preparing Why is a 6-week abortion ban nearly a total ban? It's about how we date a pregnancy
(DBN)

South Dakota abortion rights groups collect enough signatures to advance ballot measure
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Arizona Republicans Repeal Abortion Ban—It's Still Going Into Effect Though
(DBN)

Millions of Americans May Get Their Medicare Advantage Benefits Cut
(DBN)

CVS shares plummet as health company slashes profit outlook on higher medical costs
(DBN)

Retailers retreat from health care delivery
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Bird flu outbreak spreads to chickens, cattle, raises concerns over human infections Bird Flu Highlights Concerns Around Raw Milk Two possible bird flu vaccines could be available within weeks, if needed
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UnitedHealth CEO tells lawmakers the company paid hackers a $22 million ransom Change Healthcare cyberattack was due to a lack of multifactor authentication, UnitedHealth CEO says Senators Slam UnitedHealth’s C.E.O. Over Cyberattack Preventing the Next Big Cyberattack on U.S. Health Care
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A hacker got 6 years in prison for stealing therapy notes and blackmailing patients
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Collusion in Health Care Pricing? Regulators Are Asked to Investigate
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Banking:

Why hundreds of U.S. banks may be at risk of failure
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Autos:

Cash-Strapped Fisker's CEO Lists Luxurious Hollywood Mansion For More Than Company's Worth As Bankruptcy Looms
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China’s Electric Cars Keep Improving, a Worry for Rivals Elsewhere
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Vehicles Sales Increase to 15.7 million SAAR in April; Up Slightly YoY
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Economy:

Fed holds rate steady and moves to ease the pace of balance sheet reduction FOMC Statement: No Change to Fed Funds Rate, "lack of further progress" on Inflation Fed holds off on rate cuts after ‘lack of further progress’ on inflation What the Fed’s Moves Mean for Mortgages, Credit Cards and More The economy needs to take one of these 2 paths before the Fed cuts interest rates, Powell says
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Rogoff Says Markets Will Thwart Any Political Pressure on Fed
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Yellen defends Fed independence as Trump allies push plans for more control
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Jay Powell Is SO Fired
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The Fed Thinks Time is on Its Side. That Could Get Awkward.
(DBN)

Biden’s worst-case economic scenario is unfolding at the worst possible time
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BLS: Job Openings Decreased to 8.5 million in March
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Job Openings and Hiring Are at a 3-Year Ebb
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Why the job market has stayed so hot for so long
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ISM® Manufacturing index Decreased to 49.2% in April
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ADP: Private Employment Increased 192,000 in April Private payrolls increased by 192,000 in April, more than expected for resilient labor market
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The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says
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Amazon and Starbucks show how jittery US customers are about the economy
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Trump 2.0 would be destructive for the economy, as the former president embraces 'crank' doctrine and economic fantasy, Paul Krugman says
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Trump tariffs, tax cuts and interest rates likely to fuel inflation, Wall Street and economists agree
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Welcome to the white-collar recession
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Yellen's urgent warning on threats to U.S. democracy
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Supercomputer predicts humans will face a ‘triple whammy’ extinction event
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House panel threatens to subpoena Biden’s Labor chief over return-to-work plan
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US Debt Clock
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World Debt Clock
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Real Estate:

Mohamed Hadid files for bankruptcy on Beverly Hills lot, owing $55M to creditors
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A national shortage of construction workers is driving high home prices. The industry is struggling to fill the gap.
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Freddie Mac House Price Index Increased in March; Up 6.6% Year-over-year
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America’s appetite for McMansions is devouring modern architecture
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New York’s Panic Room Boom
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WeWork to ditch Houston, San Jose leases
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Construction Spending Decreased 0.2% in March
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Municipalities:

American Towns with Unbelievable Racist Names
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Oil/Gas:

Volkswagen's EV Orders Doubled This Year
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China EVs Pile Up at European Ports
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Politics:

A Huge Gender Gap Is Emerging Among Young Voters
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Federal Judges Block Newly Drawn Louisiana Congressional Map
(DBN)

Inside Trump's stunning flip-flop on early voting
(DBN)

Marjorie Taylor Greene promises Mike Johnson ouster attempt next week Greene unveils plan to force vote on Speaker Johnson ouster Democrats laugh off Greene's plan to force Johnson ouster vote Johnson: Greene not ‘proving to be’ a serious lawmaker Johnson suggests he wants to lead GOP next Congress
(DBN)

Democrats grudgingly save another Mike Johnson bill
(DBN)

GOP hardliners use rare procedural move to block leadership-backed bill
(DBN)

Donald Trump is ditching the Maga psychos and building a very slick team
(DBN)

Romney rejects Noem comparison: ‘I didn’t shoot my dog’ House members needle Kristi Noem with launch of "Dog Lovers Caucus"
(DBN)

Republicans could cost Kari Lake the Arizona Senate race as a new poll shows 15% of GOP voters backing her likely Democratic opponent
(DBN)

George Santos dons red lipstick and a wig on Cameo as he brings drag queen Kitara Ravache 'out of the closet' for the first time in 18 years
(DBN)

Inside the far-right plan to use civil rights law to disrupt the 2024 election
(DBN)

Threats, harassment of election workers have risen, poll shows
(DBN)

Fears of fascism, extremism grow in US
(DBN)

House passes GOP antisemitism bill amid college unrest Gaetz dubs House antisemitism bill a ‘ridiculous hate speech bill’ Gaetz under fire for defending antisemitism vote with antisemitic trope Jewish Democrat on voting against bill: Anti-Zionism not ‘inherently’ antisemitism Lawler, Moskowitz slam Greene over antisemitism bill pushback These 70 House Democrats and 21 Republicans voted against a bill to crack down on antisemitism on college campuses
(DBN)

Biden is aiming increasingly personal and sarcastic jabs at Trump
(DBN)

Biden to deliver speech on antisemitism at Holocaust memorial ceremony
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RFK Jr. is all over conservative media. Trump’s camp is concerned Where Robert F. Kennedy Jr. is on the presidential ballot in 2024
(DBN)

Graham reveals potential phone hack involving someone impersonating Schumer
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H.R. McMaster writes about his time in Trump administration in upcoming 'At War with Ourselves'
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Tech:

Google says immigration rules are making it hard to hire top AI talent
(DBN)

Elon Musk controls key global infrastructure, from satellites to social media
(DBN)

Truth Social Co-Founder Says Trump Nearly Derailed Deal That Led to Market Windfall DJT shares drop more than 8% as Trump Media hot streak stalls Trump Media shares collapsed, rallied, and are collapsing again. No one knows why.
(DBN)

Connection interrupted: Federal internet discount begins to expire
(DBN)

How robots making your burger and fries can lead to greater income inequality
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DOJ, GOOGLE to present closing arguments in antitrust trial
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Crypto:

Richest US Prisoner: Worth $43 billion, Binance's Changpeng Zhao will see his wealth grow even in jail. Here's how
(DBN)

Hackers Drain Funds from Defunct DeFi Lending Protocol Yield Protocol
(DBN)

Scammers bilked older Americans out of $3.4 billion last year, often using cryptocurrency
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Food/Beverage:

Bankrupt Etta restaurants bought for $4 million by Texas fintech entrepreneur, who plans to grow the brand
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Starbucks struggling to meet morning demand
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Cannabis:

What marijuana reclassification means for the United States
(DBN)

‘Seize all cannabis’: Inside the surprising federal crackdown on New Mexico weed farmers
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Weddings:

Company’s bankruptcy creates wedding nightmare for Virginia couples
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Pharma:

Endo has finally emerged from bankruptcy. Now what?
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Celebs:

‘I am stressed’ admits Katie Price – as she reveals real reason she WON’T attend bankruptcy court despite threat of jail Katie Price insists she's 'mentally not strong enough' to attend bankruptcy hearings Double bankrupt Katie Price claims fans mistake her for A-list pop star as she flogs discounted beauty boxes on TikTok Katie Price’s boyfriend JJ Slater’s company suffers £31k loss as she fights to save Mucky Mansion amid double bankruptcy
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Former Eagles linebacker files for bankruptcy amid big IRS bill
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Agribusiness:

The Workers at the Front Lines of Bird Flu More dairy products test negative for avian flu
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Retailing:

Over 45K retail stores may close in next 5 years: UBS
(DBN)

The running list of major retail bankruptcies
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Entertainment:

‘A Man In Full’ TV Review: Jeff Daniels & Diane Lane Are Full-On In Netflix’s Tom Wolfe Adaptation, But That’s Not The Only Reason To Watch
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (33 new filings today)
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Recent Ch. 11/9/12/15 Adversary Proceeding Filings (14 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Alternatives:

Parties Beware—Noncompliance with Delaware ABC Statute Can Lead to Serious Consequences
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Mass Torts:

Johnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer Johnson & Johnson talc settlement shows limits of bankruptcy tactics Johnson & Johnson Has a New Plan to Settle Talc Bankruptcy
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Clergy sexual abuse probe targets New Orleans Catholic Church leaders who may have shielded predators
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Litigation Finance:

Investors Near $600 Million Windfall in Texas Bankruptcy Case
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1111(b):

The Legal Anomaly of Non-Recourse Financing
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Bankruptcy Crimes:

Charleston businessman charged in extensive bankruptcy fraud case Charleston Developer Admits to Lying on Bankruptcy Records, Concealing Nearly $1M Transfer
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Mediation:

Study: Offering And Advocating For A Solution Is A Poor Mediator Strategy
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Subchapter V:

Congress Considers Another Extension to the Subchapter V $7.5 Million Debt Limit
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Aviation:

DGCA Deregisters Bankrupt Go First's 54 Planes
(DBN)

Unruly Passenger Must Pay United Airlines $20,638 for Disrupting Flight
(DBN)

Why there's so much Senate drama around a mostly uncontroversial aviation bill
(DBN)

A man repeatedly punched by Mike Tyson in a viral video taken on a JetBlue flight is suing the former heavyweight champ — 2 years after the incident
(DBN)

Anna Delvey’s Ex-Lawyer Says Spirit Airlines Dispute Put Her in Psych Ward
(DBN)

Go First planes need engines, spare parts; lessors to take longer to fly them out of India
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Banking:

When Banks Fail, Why Do We Keep Bailing Out Uninsured Depositors?
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Trucking:

92-year-old Texas trucking company files for bankruptcy liquidation
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Fraud:

April 2024 Ponzi Scheme Roundup
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Utilities:

PG&E seeks KKR deal to help fund California wildfire prevention
(DBN)

New York cities plagued by blackouts due to climate change, study finds
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Sports:

Comcast pulls Bally Sports channels, imperiling US broadcaster's restructuring For now, MLB’s streaming plans hinge on Diamond Sports Group’s bankruptcy case Los Angeles Angels Among Teams Blacked Out In Comcast Carriage Dispute Fray between Bally Sports, Xfinity leaves Minnesota sports fans frustrated Everything You Need To Know About the Bally Sports Bankruptcy
(DBN)

Everton face 9-point deduction with club at risk of administration despite last-minute cash injection of £16million
(DBN)

PwC dragged into Melbourne Rebels fight, Rugby Australia alleges bias
(DBN)

Rebels to face Blues following creditors' vote on club
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Climate:

Raskin calls Republican senator ‘climate fatalist’ in oil industry hearing
(DBN)

Oregon appeals court rejects climate lawsuit Appeals court orders youth climate suit dismissed — again
(DBN)

Sen. Whitehouse: Climate change could crash the financial system
(DBN)

Manchin vows to introduce resolution to overturn Biden permitting rule
(DBN)

Not Caused By Climate Change: Drought That Snarled Panama Canal Was Linked to El Niño, Study Finds
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Religion:

‘A step back in time': America’s Catholic Church sees an immense shift toward the old ways
(DBN)

United Methodist Church lifts bans on LGBTQ clergy, same-sex weddings
(DBN)

Obstacles remain as women seek more leadership roles in America’s Black Church
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UK:

‘What will change?’: council funding woes loom over UK local elections
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Birmingham faces economic collapse amid record bankruptcy filings
(DBN)

U.K. begins detaining migrants set to be deported to Rwanda
(DBN)

Michael Gove to appoint police chief to head inquiry into bankrupt Labour-run Birmingham council
(DBN)

Bankrupt Birmingham council spends £400K on diversity staff
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MENA:

Netanyahu warns Israel will invade Rafah if Hamas doesn't take hostage deal
(DBN)

Israel-Hamas deal is only hope for Biden's Middle East strategy
(DBN)

More war debris in Gaza than Ukraine: UN
(DBN)

Colombia to cut diplomatic ties with Israel
(DBN)

White House considers welcoming some Palestinians from Gaza as refugees
(DBN)

US military pier to begin operations off Gaza as soon as this weekend
(DBN)

Israeli Minister Reportedly Asks IDF To Kill Palestinians Instead Of Arresting Them
(DBN)

Israel tells U.S. it will punish Palestinian Authority if ICC issues warrants
(DBN)

Tweets or 'terrorism'?: Saudi's jailed online activists
(DBN)

From $200 million valuation to insolvency: Insurtech startup Sproutt heading for bankruptcy
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Russia:

The number of financial pyramids and illegal creditors has increased dramatically in Russia
(DBN)

U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort
(DBN)

Russia may not start an all-out war with NATO, but already has plans to destroy it from within
(DBN)

Blaze Engulfs Oil Refinery Deep Inside Russia After Ukraine Drone Strike
(DBN)

Russians flock to see NATO hardware seized in Ukraine; Moscow to beef up weapons, front line forces
(DBN)

Ukraine unveils AI-generated foreign ministry spokeswoman
(DBN)

A surprise arrest and a corruption scandal hint at splits in Putin's inner circle
(DBN)

WNBA star Brittney Griner reflects on 'mistake' that led to agonizing detention in Russia in '20/20' special
(DBN)

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Poland:

Polish officials condemn arson attack on Warsaw synagogue
(DBN)

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Denmark:

The Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire Economy
(DBN)

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India:

Death of A Tribunal: How India's NCLT Fades in Influence
(DBN)

Troubles mount for Byju's: NCLT issues notice on Oppo's insolvency plea
(DBN)

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South Korea:

Trump Sticks to His Guns on Korea Withdrawal
(DBN)

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Sweden:

Swedish Bankruptcies in 21-Month Surge Show No Signs of Easing
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