May 8, 2024

The Daily Bankruptcy News

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Law:

Larger law firms had ‘buoyant performance’ in first quarter of 2024; revenue, demand and rates are up
(DBN)

Cahill Picks Up Former Barclays Director in Bankruptcy Build Out Amit Trehan Joins Cahill’s New York Office as a Bankruptcy and Restructuring Partner Gibson Dunn, Cahill Hire NY Restructuring Partners as Practice Outperforms Most
(DBN)

Gibson Dunn Adds Special Situations Partner Caith Kushner to New York Office
(DBN)

Sullivan & Cromwell Plans Vigilant Hiring Checks After Protests
(DBN)

Bankruptcy law firm S&C absolved from misconduct, according to new FTX proposal
(DBN)

BigLaw associate identified as good Samaritan fatally shot at McDonald’s
(DBN)

Lowered bar pass cut scores mean better bar pass rates in 4 states
(DBN)

Former top prosecutor in St. Louis ‘remains elusive,’ says state auditor who can’t find her
(DBN)

This Biglaw Firm Is Larded Up On Non-Equity Partners
(DBN)

Trump could be talking himself into a prison sentence if he’s convicted Adams Says Rikers, Staffed by ‘Professionals,’ Is Ready for Trump The Trump campaign contemplates a jail sentence Stormy Daniels Tells of Her Encounter With Trump in Tahoe ‘Hitting Her On The Arm’: CNN’s Paula Reid Says Trump Got ‘Physical’ With Lawyer in Court As Stormy Daniels Testified The evolution of Stormy Daniels Judge said he won’t tolerate Trump’s cursing and headshaking during Daniels’ testimony, transcript shows Trump’s Private Life Exposed in Intimate Stormy Daniels Testimony The Darker Side of Stormy Daniels’s Testimony Stormy Daniels 'spanked' pajama-clad Donald Trump with Forbes magazine in secret hotel rendezvous Stormy spoke. Trump fumed. Jurors were captivated — but also cringed. Stormy Daniels' credibility becomes a linchpin in the prosecution's hush money case Stormy Daniels Goes Off Script Trump's lawyers made a last-minute bid to limit Stormy Daniels' testimony about sex. It didn't work. 'You hate Donald Trump!' Stormy Daniels accused of vendetta in scorching cross-examination by Trump lawyer Stormy Daniels and Trump's lawyer trade tense words on cross-examination Trump told Stormy Daniels 'you remind me of my beautiful daughter,' court hears A Timeline of the History Between Stormy Daniels and Donald Trump Jurors take notes, watch Stormy Daniels as she testifies Donald and Melania Trump 'sleep in separate rooms,' Stormy Daniels claims in testimony Stormy Daniels and Trump Have Met in Court Before, to Her Detriment Donald Trump visibly uncomfortable as Stormy Daniels gives frank testimony on their ‘relationship’ at hush money trial Stormy Daniels Was Entertaining, but Did She Make a Real Impact? Trump quickly deletes post attacking judge over today's testimony Trump loses bid for mistrial in hush money case Ex-DOJ Official Stunned By Trump Hand Gesture In Court: ‘Can’t Begin To Fathom’
(DBN)

Cannon suspends key Mar-a-Lago deadline amid feud over evidence handling in Trump case Trump classified documents trial postponed indefinitely Retired judge makes prediction about classified docs trial Ty Cobb on Judge Cannon: Biased & Incompetent
(DBN)

Hush money trial may be the only one for Trump before November
(DBN)

Donald Trump Is Headlining a GOP Event in Minnesota on the Same Day as Barron's Florida Graduation: Reports
(DBN)

'I've been waiting for you guys': Father, 2 sons arrested for Jan. 6 disorder at Capitol
(DBN)

Hunter Biden's lawyers poke at special counsel's frustration over tax case appeal
(DBN)

Giuliani says his accountant quit and no one else will help him ‘Nobody seems interested’ in helping Giuliani with accounting duties in bankruptcy case, lawyers claim Could you get by on a measly $43,000 a month? It seems Rudy Giuliani can’t
(DBN)

Garland contempt vote scheduled for next week
(DBN)

Florida’s 6-week abortion ban could set up clash with shield law states Idaho seeks to revive 'abortion trafficking' law in US appeals court Judge Blasts Alabama Threat to Prosecute Groups Aiding Out of State Abortions
(DBN)

Migrants claiming asylum can be allowed into the U.S. Here's how it works
(DBN)

First Circuit unsure if Boston can keep the devil at bay
(DBN)

Florida sues Biden administration over new transgender health care rule Activists flood Utah tip line with hoax reports to block bathroom law enforcement
(DBN)

A 78-year-old receptionist fired a month after she was recognized as a top employee wins $78,000 in age-discrimination settlement
(DBN)

Globe-trotting jewelry thief finally caught after diamond ring heist
(DBN)

Boy threatened by deputy for filming his mother being violently arrested wins verdict
(DBN)

These states have the highest rates of road rage gun violence
(DBN)

Texas mother sent text to ex-husband saying, 'Say goodbye to your son' before killing boy
(DBN)

Deaf driver killed after possible 'honking incident' led to road rage shooting: Reports
(DBN)

'Don't worry, I shot them both': Florida man charged with murder over basketball hoop
(DBN)

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Judges:

Bankruptcy Judges Aren’t ‘Clubby'—Ethical Networking Is Key
(DBN)

Courtroom becomes a test of power for an ex-president and a judge
(DBN)

New York Judge Pleads Guilty To Selling Cocaine, Leaves The Bench
(DBN)

13 conservative federal judges won't hire Columbia grads over protests University is ‘incubator of bigotry,’ say 13 federal judges boycotting its grads Judges Boycotting Columbia Defend Decision Based On Outright Lie
(DBN)

BigLaw partner alleges federal judge once assaulted and taunted him, requiring his recusal
(DBN)

Exposing The Wild Ethical Lapses Of The Supreme Court Is Good For Your Career
(DBN)

Supreme Court Advocates Going Hungry Thanks To New Argument Format
(DBN)

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Wall Street:

Stock futures slip after Dow notches longest winning streak since December
(DBN)

Why Wall Street is transfixed by a BofA banker's untimely death
(DBN)

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Retailing:

Foxtrot Market’s assets to be sold in foreclosure sale
(DBN)

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Crypto:

FTX Customers Poised to Recover All Funds Lost in Collapse FTX says it has billions more than owed to victims Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan FTX Recovers Billions More Than It Owes Creditors, But Repayment Plan Still Faces Controversy FTX’s bankruptcy plan offers over 100% recovery for creditors, faces mixed reactions
(DBN)

Former NFL Star Rob Gronkowski to Pay $1.9M to Settle Crypto Investor Suit
(DBN)

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Fraud:

Grain Valley CEO points to CFO for answers about questionable finances in bankruptcy hearing
(DBN)

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Seafood:

Bankrupt Lobster Boys selling Canadian plant, employed accountant convicted of misappropriating over USD 77 million
(DBN)

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Economy:

The great wealth transfer has started — but millennials, Gen Z may not inherit as much as they anticipate
(DBN)

A 'proper' economic downturn is looming, which could trigger steep rate cuts as soon as this year, economist says
(DBN)

Trump's inflation bomb
(DBN)

Warren Buffett: They Have to Raise Taxes
(DBN)

Small biz owners worried about inflation but happy to be entrepreneurs
(DBN)

Gen Z will pay dearly for this U.S. blunder on the massive debt that boomers, Gen X, and millennials are dumping on them, former White House economist warns Gen Z Sinks Deeper Into Debt - WSJ
(DBN)

How the US financial system helps shelter profits from environmental organized crime
(DBN)

Bosses mandated them back to the office. They took legal action instead
(DBN)

If it feels like NYC is richer, you're right. One in every 24 residents is a millionaire.
(DBN)

A lesser-known recession indicator with a perfect track record over the last 11 downturns just signaled that trouble is coming. Here's when a recession could arrive — and why stocks are still safe for the time being.
(DBN)

Less booze, more healthcare: How the spending habits of today's millennials compare to boomers 30 years ago
(DBN)

AAR: Rail Carloads Down YoY in April, Intermodal Up
(DBN)

Social Security just passed Medicare as the government's most pressing insolvency risk
(DBN)

Phoenix's true 2023 unemployment rate was about 22%
(DBN)

Was the 401(k) a Mistake?
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

CoreLogic: US Home Prices Increased 5.3% Year-over-year in March
(DBN)

These 10 states are the most frustrating places to buy a house. See where homebuyers are surprised with the biggest fees.
(DBN)

Asking Rents Mostly Unchanged Year-over-year
(DBN)

Oceanwide Plaza put up for sale in downtown L.A. following graffiti and bankruptcy
(DBN)

In bankruptcy workout, WeWork to assume five Bay Area leases WeWork reworks terms on space in downtown KC office tower WeWork Files to Keep Yet More Leases in SoCal, DC, Elsewhere WeWork staying put in Detroit amid restructuring
(DBN)

Nate Paul at risk of losing more properties after skipping tax payments
(DBN)

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Municipalities:

Record Wave of Americans Fled Big Cities for Small Ones in 2023
(DBN)

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Oil/Gas:

CEO: Exxon Will Still be in Oil in 2050
(DBN)

Future uncertain for The Store gas stations following Mountain Express Oil bankruptcy news
(DBN)

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Politics:

Biden condemns antisemitism, says too many are ‘forgetting’ horrors unleashed on Israel by Hamas Biden warns of a ‘ferocious’ surge in antisemitism in the U.S. and across the globe Biden recalls horror of Oct. 7 Hamas attack in Holocaust remembrance speech Biden compares Hamas attack to Holocaust in antisemitism warning
(DBN)

Where is Melania Trump? Donald attends F1 without his wife by his side
(DBN)

Unexpected warning signs for Trump in busy Indiana primary
(DBN)

Trump tests Senate GOP leaders on election fraud claims
(DBN)

Trump looks to cut off oxygen to RFK Jr. R.F.K. Jr. Says Doctors Found a Dead Worm in His Brain RFK Jr. challenges Trump to debate
(DBN)

Trump is selling sneakers, bibles, and other odd products while he campaigns. Here’s a look at all the items he is hawking.
(DBN)

Twice as Many Young Voters Trust Donald Trump Over Gaza Than Joe Biden
(DBN)

Here’s where the Biden-Trump race stands 6 months out from the election
(DBN)

Trump-Biden race gets nasty: When they go low, let’s get lower
(DBN)

Kari Lake’s Worst Enemy Is a Republican
(DBN)

What MTG wants from Mike Johnson Greene relents, for now, on bid to oust Johnson ‘You Got Played’: Republicans Blame the Media for Marjorie Taylor Greene Furor Democrats warn Mike Johnson about private talks with MTG GOP senators warn Speaker to stand firm on Greene’s Ukraine demand
(DBN)

US popularity shrinks worldwide, new report says
(DBN)

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Tech:

TikTok, ByteDance sue to block US law seeking sale or ban of app
(DBN)

TikTok Taps Covington, Mayer Brown in Fight for US Survival
(DBN)

Facebook's Oversight Board to consider if 'from the river to the sea' is hate speech
(DBN)

Many of the best-known social-media influencers are literal unknowns. Anonymity provides cover as they peddle disinformation.
(DBN)

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Banking:

FDIC is a workplace rife with sexual harassment, independent probe alleges The FDIC is a ‘boys club’ where some senior execs pursued romantic relationships with their staff, says new report
(DBN)

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Private Equity:

Veteran analysts say the world's biggest private-equity firm could be in big trouble
(DBN)

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Labor:

Food Plant Fined $650,00o for Hiring Teens
(DBN)

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Healthcare:

Steward’s bankruptcy documents reveal sprawling debt, planned hospital fire sale Even before Steward went bust, its landlord and financial lifeline paid a steep price Steward Health Care to sell all U.S. hospitals after declaring bankruptcy Steward aiming to sell hospitals before end of June Steward Health Care’s Latest Fantasy Story Nurses of Steward-owned hospitals hope for new owners to bring change as bankruptcy uncertainties remain Bank Of Valletta silent on €36m Steward loan after bankruptcy filing Biggest hospital bankruptcy in decades affects 2.2 million patients across eight states
(DBN)

Invitae's $239 million sale to Labcorp approved by Bankruptcy Court
(DBN)

California city declares a public health emergency after tuberculosis sickens 14
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (36 new filings today)
(DBN)

Recent Ch. 11/9/12/15 Adversary Proceeding Filings (2 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Former Unicorns Are Bouncing Back From Bankruptcy
(DBN)

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Mass Torts:

Mass Tort Bankruptcy Goes Public
(DBN)

Surviving Baptistland
(DBN)

The Texas Two-Step: Efficient, Equitable and Just
(DBN)

Boy Scouts of America changing name to more inclusive Scouting America after years of woes
(DBN)

Clergy Sexual Abuse Probe Targets New Orleans Catholic Church Leaders
(DBN)

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Jurisdiction:

Subject Matter Jurisdiction: An Assignment For Benefit Of Creditors Requirement (In re Vernon Hills)
(DBN)

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Aviation:

Boeing is celebrating the latest employee to come forward with dirt on the company ‘for doing the right thing’
(DBN)

Head of NASA Says He Trusts SpaceX Because Someone Other than Elon Musk Is Running It
(DBN)

Air Peace, seven countries to revive bankrupt Caribbean airline
(DBN)

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Utilities:

PREPA bondholders seek documents to support lift of stay
(DBN)

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Education:

University of Chicago clears a pro-Palestinian demonstration as MIT confronts a new encampment Once champions of free speech, colleges crack down on pro-Palestinian protests Biden condemns current antisemitism in Holocaust remembrance during college protests and Gaza war Speaker Mike Johnson Says U.S. Universities Are ‘Hostile’ to Jews Columbia Custodian Trapped by ‘Angry Mob’ Speaks Out Arizona State scholar on leave after video of verbal attack on woman in hijab goes viral
(DBN)

House Republicans are about to put K-12 schools under an antisemitism microscope
(DBN)

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Broker-Dealers:

After losing arbitration, brokers file bankruptcy
(DBN)

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Autos:

Fisker's Austria unit begins insolvency proceedings Fisker is Reportedly Closing its California Headquarters The company that actually makes Fisker Oceans says the troubled EV startup is done making Fisker Oceans
(DBN)

Lucid Prepares Affordable Compact SUV for Late 2026 Production, Will It Still Be Around?
(DBN)

China’s booming electric vehicle companies eye U.S. competitors they see as ‘not ready’
(DBN)

Wholesale Used Car Prices Declined in April; Down 14.0% Year-over-year
(DBN)

Tesla vehicles kept crashing even after the Autopilot software updates, NHTSA says
(DBN)

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UK:

Lorcan O’Connor joins UK Insolvency Service Board
(DBN)

Rising insolvency numbers translate to case records at listed funder
(DBN)

UK Judge Rules Funder Is Likely Owned by Sanctioned Russians
(DBN)

King Charles gives Harry ultimate snub
(DBN)

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EU:

ECB and the Fed Part Ways
(DBN)

In Europe, the police are also arresting protesters and clearing encampments.
(DBN)

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Canada:

Creditor protection extended for insolvent landlords who own dozens of Sault houses
(DBN)

Canada Re-Criminalizes Public Drug Use
(DBN)

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Russia:

Ukraine foils assassination attempt on Zelensky after Putin spies ‘tried to infiltrate bodyguards to kidnap & kill him’ Ukraine arrests two officials for treason over alleged Russian plot to kill Zelensky
(DBN)

Cubans recruited by Russia to fight in Ukraine as Putin offers high pay and passports
(DBN)

Russian Troops Massacred by Fellow Soldiers
(DBN)

Russia Hits Ukrainian Power Plants, Further Straining Energy System
(DBN)

Russia is raising a stink about F-16s in Ukraine by saying they're nuclear-capable, even though the types of warplanes already deployed there can carry nukes
(DBN)

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MENA:

Israeli forces seize Rafah crossing in Gaza, threatening aid and putting cease-fire talks on edge EU’s top diplomat condemns assault on Rafah as Israel halts aid routes Biden faces key test over Israel’s military actions in Gaza Israel hasn't crossed "red line" with current Rafah operation, U.S. officials say Joe Biden’s ‘red line’ is an invasion of Rafah. So what happens if Israel attacks?
(DBN)

Israel Reopens a Gaza Crossing That Is an Important Aid Route
(DBN)

White House says Israel and Hamas put a hostage deal within reach
(DBN)

US concerns over Israel’s Gaza policy led to weapons holdup Gaza War Puts New Pressures on U.S. Arms Transfer Policies US paused shipment of weapons to Israel to head off Rafah invasion-official US pauses shipment of bombs Israel could use in Rafah Israeli officials fail to ease tensions in Capitol Hill meetings
(DBN)

US report on Israel’s wartime conduct in Gaza delayed, aides say
(DBN)

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Argentina:

Inflation-hit Argentina launches new top banknote, worth just $10
(DBN)

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Germany:

Inflation-hit Germans are demanding a legal cap on the price of a doner kebab. They’re not joking.
(DBN)

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Brazil:

Brazil court approves Sinopec Petroleum’s exit from bankruptcy protection
(DBN)

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