November 12, 2024

The Daily Bankruptcy News

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Law:

Law firm profitability is at near-record high, new report says
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Milbank Leads The Associate Bonus Race
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Big Law Risks Sharp Elbows as Firms Heap Massive Pay on Stars
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Merger will produce ‘global legal powerhouse’ that will be called HSF Kramer Herbert Smith Freehills, Kramer Levin Announce Merger Plans
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The Litigation Reach Of These Biglaw Firms Is Remarkable
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Friends Shouldn't Use Admins To Schedule Catch-Ups With Friends
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Law Firm COO & CFO Forum: AI’s potential impacts on the legal industry
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Cleary Gottlieb Names 30 New Partners and Counsel
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Mississippi Senate paid Black lawyer ‘significantly less’ than white colleagues, DOJ suit alleges
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Conquering Conferences: Avoiding The Faux Pas Of Networking
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Firm unfairly sacked 'playful' associate accused of sexual assault by colleague
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Lawyers' most startling comments about their firms
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Ex-fiancee must return $70K ring after failed engagement, court says
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Many in government are worried about Trump’s return. At DOJ, they’re terrified.
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Trump wants to expand death penalty to include these crimes
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How fierce Trump ally Kash Patel could help reshape the FBI or Justice Department
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Special counsel Jack Smith takes first step to halt Trump prosecution Judge grants Jack Smith's request to pause Trump's federal Jan. 6 case Jack Smith putting Trump's election interference case on ice does not mean it's dead — yet Rep. Jim Jordan leaves the door open for Jack Smith to testify
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FBI Director Christopher Wray is preparing for a possible forced exit under Trump
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Sen. John Barrasso dodges when asked if Trump should keep DOJ independent
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Arizona attorney general says she has 'no intention' of dropping fake electors case
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Sidney Powell Ordered to Produce Financial Docs
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No, Jan. 6 rioters won't be getting the Trump treatment: DOJ Armed Jan. 6 rioter who chased Capitol Police Officer Eugene Goodman up stairs guilty Trump-appointed judge throws the book at one of the most violent Jan. 6 rioters
(DBN)

Rudy Giuliani Says He 'Can't Buy Food' After Checking Account Seized Rudy Giuliani Waves Red Flag In Front Of Federal Judge In Freeman/Moss Case
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Will Trump’s hush money conviction stand? A judge will rule on the president-elect’s immunity claim
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Who Trump might pardon as president
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FBI, DOJ Investigate Racist Mass Texts
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Ramaswamy backs Trump's mass deportations as 'pragmatic' approach History: 'Communities were destroyed': Mass deportations of 1930s and 1950s show harm of Trump plan
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Former acting ICE director Tom Homan will serve as ‘border czar,’ Trump announces Donald Trump Border czar: Three Immigration Priorities for Tom Homan
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'No way he can do that': Legal expert blows up major Trump campaign promise
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If Texas officials wanted to stop the arrival of undocumented immigrants, they could try to make it impossible for them to work there
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Trump’s border security plans face potential obstacle in Senate parliamentarian
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Judge tosses Illinois ban on semiautomatic weapons, governor pledges swift appeal
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Deadly Tuskegee University shooting leads to machine gun possession arrest
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Judge says New York can't use 'antiquated, unconstitutional' law to block migrant buses from Texas
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California voters reject proposed ban on forced prison labor in any form
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Wisconsin’s high court to hear oral arguments on whether an 1849 abortion ban remains valid
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Oakland mayor and progressive DA ousted amid crime complaints California took a surprisingly red turn on key issues, upending its ultraliberal reputation
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Anger over ‘street chaos’ fuels ouster of another blue-city mayor
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‘I’m at a loss honestly:’ People holding Nazi flags harass citizens in Mid-Michigan
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FBI warns hackers are filing fake police data requests to steal people’s private information
(DBN)

Police chief defends cops on social media for forcing murder confession that didn't happen
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14-year-old Florida boy pleads guilty to beating and sexually assaulting 91-year-old woman
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Driver tells 911 a fake cop pulled him over. It was an armed retiree, Florida cops say
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Celebrity chef 'grateful' to be alive after being gunned down with girlfriend in robbery
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Microchipped labradoodle that stayed at scene of owner's murder was key to finding killer
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43 lab monkeys escaped in South Carolina. They have a legal claim to freedom.
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Judges:

Ex-Judge Romance Probe Reaches Contentious Sanchez Energy Case
(DBN)

Dems at War Over Secret SCOTUS Plot to Oust Sotomayor Sanders: Sotomayor stepping down not ‘the sensible approach’ Supreme Court Justice Sotomayor will remain in her post as some call on her to step down
(DBN)

Supreme Court Won’t Hear Bankruptcy, Disclosure, Deduction Cases
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Man who accessed RBG’s health data sentenced to 2 years in prison
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Man Who Illegally Accessed Ruth Bader Ginsburg's Medical Records Before Her Death Gets Prison Time
(DBN)

The Fifth Circuit May Become Even More Conservative During Trump's Second Term
(DBN)

Judge in 'f**king m**g' case claims the North is more sweary
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Trump-Shaped Supreme Court Emerges as One of Few Checks on Power
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Wall Street:

S&P 500 futures are little changed after stocks close at record highs
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The Wall Streeters whispering in Trump's ear
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Markets just had their best week all year
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Layoffs:

The full list of major US companies slashing staff this year, including Visa, Meta, and Goldman Sachs
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Audi to Fire 4,500
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Politics:

‘Your Body, My Choice’: Harassment Toward Women Surges Online After Election Day Nick Fuentes doxxed following ‘your body, my choice’ comments, report says
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GOP Wins Control of the House of Representatives
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Rick Scott: Let's End Rules of Senate for Trump
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What Trump might do on Day One of his presidency Trump's team hits first roadblock as they start to assume power Trump on Day 1: Begin deportation push, pardon Jan. 6 rioters and make his criminal cases vanish Warren: Trump Already Violating Transition Law 5 key takeaways on the voters Trump won in 2024 US Military Leaders Already Strategizing On How To Respond To Concerning Orders From Trump Pentagon officials anxious Trump may fire the military’s top general House Armed Services chair in the mix for Trump’s Pentagon chief Can Trump be the New Reagan? Trump will not go after his political opponents, Jim Jordan predicts The Faction Ascendant in Trump World Right Now Why Susie Wiles Is So Good at Managing Donald Trump ‘Ice maiden’ Susie Wiles’s demands for accepting top Trump White House role revealed Gavin Newsom’s quest to ‘Trump-proof’ California enrages incoming president As Trump Returns to Power, Allies and Adversaries Expect a Wave of Revenge How blue states are plotting to thwart Trump Trump resistance rises in states led by Democratic governors Trump completes swing-state sweep with Arizona victory Donald Trump flips Nevada Trump officially sweeps all 7 swing states Iran ordered an operative to assassinate Trump before the election, federal prosecutors say Trump and Biden to meet Nov. 13 in the Oval Office ‘Second Resistance to Trump’ has already begun, but it won’t work so well this time These states backed both Trump and abortion rights Red states embrace Trump — and progressive policies The global trend that pushed Donald Trump to victory Trump selects Rep. Elise Stefanik to be UN ambassador Republicans quickly battle to replace Stefanik in House GOP leadership Trump taps Stephen Miller for top White House policy job Trump Picks Kristi Noem to Lead Homeland Security, CNN Reports Trump Expected to Choose Marco Rubio as Next Secretary of State Trump Picks Combat Vet Waltz as National Security Advisor Trump Picks Former Congressman Lee Zeldin to Lead the EPA Here are the GOP’s top legislative priorities under Trump
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‘Prime Minister Vance’ set to be most powerful VP since Cheney
(DBN)

Careful what you vote for, because you just might get it
(DBN)

Trump rejects Pompeo, Haley for Cabinet Trump’s second-term Cabinet: Here’s who may fill key roles Trump Demands Republicans Allow Some Nominees to Bypass Senate Senate GOP leader candidates pounce on Trump's new demand
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Gallego defeats Lake in Arizona Senate race
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GOP inches closer to retaining House majority
(DBN)

House Democrat Targeted in Apparent Assassination Plot
(DBN)

FEMA worker fired for telling hurricane responders to avoid MAGA homes
(DBN)

Biden will continue to push for Ukraine aid, Gaza cease-fire, Jake Sullivan said
(DBN)

More Democrats fear the party's image isn't just damaged – it's broken Carville: Harris had ‘every advantage’ in the race Why Was There a Broad Drop-Off in Democratic Turnout in 2024? Many Democrats Who Reliably Turned Against Trump Sat This One Out Democrats who warned Harris launch their rebukes: ‘These guys didn’t get it at all’ "I think it's bullsh*t": House Dems relapse into Trump-era internal war Lessons from Florida for the Democratic Party The blue wall was Kamala Harris' clearest path to the White House. Here's why it faded away. What Dems missed about human connection — and Trump saw Murphy on Democrats’ losses: ‘Our tent is too small’ GOP pollster Frank Luntz: ‘Whoever told’ Harris to focus on Trump ‘committed political malpractice’ Harris, Biden camps blame each other for loss Rep. Dean Phillips tears into fellow Democrats over 2024 loss A-list celebrity endorsements boomerang on Harris, Democrats ‘Pod Save America:’ Biden’s internal polling showed Trump winning 400 electoral votes Drop-Off in Democratic Votes Ignites Conspiracy Theories on Left and Right ‘No time to pull punches’: is a civil war on the horizon for the Democratic party? Democrats begin grappling with who will lead them through exile Bernie Sanders says Democrats need to own why they lost the working-class Pelosi hops on the Biden blame game and says there should've been an open primary Democrats do some soul-searching Bill Maher Torches Liberals as Snobs and Brats Trump just realigned the entire political map. Democrats have 'no easy path' to fix it Latino men just didn’t want a woman president Left-wing conspiracy theorists claim Elon Musk used satellites to ‘steal’ US election
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An Overlooked — and Increasingly Important — Clue to How People Vote
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‘Red’ US states pass progressive laws while ‘blue’ states vote for conservative measures
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Economy:

Powell is already protecting Fed's independence from Trump Powell to Trump: Go ahead, make my day
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US Small-Business Optimism Rose in the Weeks Before the Election
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Trump has promised lower interest rates. That will be largely out of his control.
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Trump's plan for Social Security will help baby boomers in the short term and cut benefits for anyone younger
(DBN)

Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty
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Voters worldwide are angry about higher prices and keep punishing those in power
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Democrats wished the election was about jobs. Trump's win indicates it was about prices.
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Young Black and Latino men say they chose Trump because of the economy and jobs. Here’s how and why
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Frustrated Americans await the economic changes they voted for with Trump
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Economists say Trump could give Americans the very thing they voted against
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The Wall Street CEO Raising His Hand to Run Trump’s Economy
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Democrats Will Win Again Once the Economy Tanks
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Trump’s Tariffs Could Cost Consumers $78 Billion a Year: Report
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Why you may end up paying for the tariffs Trump wants to impose on China
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The American Global Order Could End
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'When presidencies go wrong': Economist says Trump may fall into trap that will 'doom' him
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Americans' cost-of-living anxiety is creating a population of oversavers
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Democrats' $1.9 trillion bet that blew up
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‘Feeling of dread’ spreads across federal workforce as second Trump term looms ‘We know what is coming’: Federal bureaucrats wrestle with fight-or-flight response to Trump election
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The list of major companies making changes ahead of Trump's return to the White House
(DBN)

Americans are feeling anxious — so they’re ‘doom spending’
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Texas lured the most people away from California — and these other states
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Elon Musk's wealth soars past $300 billion as Tesla shares climb on the back of Trump's election win
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The list of major companies requiring employees to return to the office, from The Washington Post to Amazon
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The Bosses Who Don’t Care About Your Ivy League Degree
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Trump ‘border czar’ says administration will conduct workplace immigration raids Trump promised mass deportations. Those affected are taking action now 4 ways Trump’s mass deportation plans could hurt your finances
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Trump’s Policies May See Return of ‘Bond Vigilantes’, Nouriel Roubini Says
(DBN)

Why Do So Many Americans Pass Up Bigger Social Security Checks?
(DBN)

Social Security Cuts May be Coming Soon
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US Debt Clock
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World Debt Clock
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Real Estate:

Red Lobster and TGI Fridays are closing. Here’s what’s moving in
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2 months after the rules changed for working with Realtors, real estate pros break down what's happening on the ground
(DBN)

America’s toughest housing markets swung toward Trump
(DBN)

Why mortgage rates are still high after a Fed cut — and likely won't go down anytime soon
(DBN)

Thriving music city that's now 'ground zero' for a property market crash | Daily Mail Online
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Municipalities:

Trump Victory Threatens Key Muni Tax Break in Hunt for Revenue
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Oil/Gas:

OPEC Cuts Global Oil Demand Growth Forecasts For a Fourth Consecutive Month
(DBN)

Enverus: Global Oil Demand Unlikely to Decline 15% By 2030
(DBN)

Oil giant Shell wins appeal against landmark Dutch climate ruling to slash emissions
(DBN)

Biden Imposes Levy on Methane Despite Trump’s Election
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Healthcare:

PE-Backed Prison Health Firm Wellpath Declares Bankruptcy
(DBN)

RFK Jr.’s new bully pulpit sends public health shock waves
(DBN)

In Vermont, where almost everyone has insurance, many can't find or afford care
(DBN)

Online sales of Plan B and birth control are surging after Trump's election, retailer says
(DBN)

Will Birth Control Be Banned During Trump's Second Term?
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Education:

It’s 10am and Dad’s Doing Jell-O Shots. Must Be Parents’ Weekend.
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Agribusiness:

US farmers gird for trade wars on Trump tariff pledges
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Media:

Bad News
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Climate:

Reeking Mud Sparks Health Fears In Spain Flood Epicentre
(DBN)

Trump Vows to Kill Offshore Wind Projects
(DBN)

Wildfires rage across the Northeast amid warm, dry conditions Wildfires are burning on both coasts in dry conditions: 'Like trying to put a blowtorch out with a squirt gun'
(DBN)

Trump’s promise to unravel Biden's climate policies could take years to fulfill
(DBN)

Climate talks open with calls for a path away from the ‘road to ruin.’ But the real focus is money
(DBN)

Report: Extreme weather cost world $2 trillion in 10 years, U.S. worst hit A shadow ‘financial crisis’ has cost the world $2 trillion
(DBN)

Trump Won’t Knock World Bank Off Its Climate Targets, Banga Says
(DBN)

Exxon CEO Pushes Back on Trump’s Radical Anti-Climate Agenda
(DBN)

Climate Skeptics Urge Trump to Boost Coal, Gut Science in Agencies
(DBN)

Scientists warn that a key Atlantic current could collapse, among other climate tipping points
(DBN)

Global Warming Is Already on the Cusp of 1.5C, New Research Finds
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Personal Finance:

The small details in an interview that could cost you a job offer
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Social Media:

Trump just made $500 million with a single Truth Social post
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Entertainment:

People Are Emptying Redbox Machines For Free Following Bankruptcy
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Media:

“Fair & Balanced”: Trump 2.0 Era Brings New Los Angeles Times Editorial Board, Owner Promises With Fox News Motto Echo
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Google News executive Shailesh Prakash resigns amid increasing tensions with news publications: Report
(DBN)

Chris Wallace to Leave CNN
(DBN)

MSNBC Ratings Crater As Viewers Tune Out Trump Victory Coverage
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Fraud:

Local Man Allegedly Co-Conspires With Unwitting IRS In Hedge Fund Scam
(DBN)

Businessman behind one of the biggest medical frauds in history tipped to run Senate
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Weight Loss:

Nutrisystem Owner Wellful in Debt Talks as Ozempic Hits Sales
(DBN)

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Food/Beverage:

Red Lobster bets on a millennial makeover
(DBN)

Court OKs Pizza Hut Korea's autonomous restructuring support plan amid financial woes
(DBN)

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Solar:

Connecticut AG Settles Lawsuit Against Bankrupt Solar Installation Firm for $5M
(DBN)

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Television:

Dish Lenders Reject DirecTV Debt Deal on Eve of Deadline
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Batteries:

VW Representative Exits Cash-Strapped Northvolt’s Board
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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (75 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (46 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Mass Torts:

Clergy abuse: Oakland Diocese proposes $160 million-plus fund — victims’ attorneys call it ‘a scam’
(DBN)

The Boy Scouts Inspired Norman Rockwell. His Works Will Now Help Pay Abuse Survivors
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It's lawyer vs. lawyer in J&J's $9 billion talc bankruptcy plan
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Avoidance Actions:

Divided Ninth Circuit Panel Reaffirms "Ponzi Scheme Presumption" Of Intent To Defraud In Fraudulent Transfer Action
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Aviation:

Plane diverted due to 'bunch of basketball players fighting' aboard
(DBN)

Spirit Airlines flight forced to divert after being shot at while trying to land Haiti Shuts Airport After Spirit Airlines Jet Hit by Gunfire
(DBN)

Private jet usage is way up for 2 reasons
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Rich people are using their private jets like taxis
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Crypto:

FTX Sues Anthony Scaramucci to Recover Creditor Funds
(DBN)

FTX sues Binance and its former CEO for $1.8 billion
(DBN)

FTX filed for bankruptcy 2 years ago — What’s happening now?
(DBN)

Former Alameda Co-CEO Sam Trabucco Forfeits Yacht, Apartments to FTX Creditors
(DBN)

Judge denies ex-Celsius CEO’s bid to dismiss fraud, manipulation charges
(DBN)

Bitcoin hits $80,000. Why Trump is boosting crypto Bitcoin surges to record high following election
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Tech:

OpenAI and rivals seek new path to smarter AI as current methods hit limitations
(DBN)

OpenAI Beats Raw Story Copyright, Training Lawsuit, for Now
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Silicon Valley is betting a Musk-inspired Trump could unleash a startup boom
(DBN)

Reddit is eating Google's lunch. And Amazon's. And Yelp's.
(DBN)

Mark Zuckerberg isn't personally liable for any harm caused to children by Facebook and Instagram, judge says
(DBN)

US Orders Taiwan to Stop AI Chip Sales to China
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Nuclear:

US Unveils Plan to Triple Nuclear Power By 2050 as Demand Soars
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Autos:

Car dealer who will be US Senator says he and Trump want to overhaul car industry
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Banking:

Americans paid $100B since 2008 to access their own money
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Sovereigns:

IMF Sees Next Zambia Payment in December After Staff-Level Deal
(DBN)

IMF Begins Review of Ukraine Loan as Kyiv Delays Tax Hike
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UK:

Liverpool Council facing £29m budget blackhole amid 'unmitigated pressures'
(DBN)

Nottingham City Council finance boss who issued 'bankruptcy' notice leaves job
(DBN)

Medway Council risk of bankruptcy is ‘very likely’ due to predicted £11.2m overspend for 2024/25 and £26.2m shortfall for 2025/26
(DBN)

Law firm not negligent in advice to settle £2m bankruptcy claims
(DBN)

Ultra-wealthy Democrats race to buy London boltholes after Trump win
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Church of England head Justin Welby under pressure to resign amid abuse scandal
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EU:

On the anniversary of Kristallnacht, Jews are once again under attack in Europe
(DBN)

'Jew hunt': Rioters planned Amsterdam pogrom in Telegram groups in advance - report
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Canada:

Supreme Court Of Canada Clarifies When Fraud By Senior Management Will Be Attributed To A Corporation
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MENA:

Qatar stalls its Gaza ceasefire mediation
(DBN)

Shackled and whipped with canes: Israel uncovers 'thousands of hours' of sickening footage showing Hamas interrogators torturing innocent Palestinians
(DBN)

Nearly 70% of verified deaths in Gaza are women and children, UN report finds
(DBN)

Eyeing Trump support, Israeli minister pushes for West Bank settlement annexation
(DBN)

Israel ‘methodically destroying’ Gaza, say health workers
(DBN)

US, Britain launch raids on Yemeni capital Sana'a, Houthi TV says - report
(DBN)

Iran wants war with the United States
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Iran has developed fentanyl-based chemical weapons
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Netanyahu says he spoke three times with Trump in recent days Trump tells Palestinian president he wants to end Gaza war
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Saudi-hosted summit says Mideast peace requires end to Israeli occupation
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Russia:

Russia Faces a Wave of Bankruptcies as Borrowing Costs Skyrocket
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Russia and Ukraine Launch Biggest Drone Attacks of War Yet
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Russia's daily attacks on Ukraine have intensified by 10x, study finds
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British ambassador hopes US stays on same page about Ukraine
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October was worst month for Russia since start of Ukraine war, UK official says
(DBN)

Trump warns Putin in call not to intensify war in Ukraine
(DBN)

EU Will Have to Consider Boosting Aid for Ukraine, Borrell Says
(DBN)

Putin has amassed 50,000 soldiers including North Korean troops in Kursk ahead of counteroffensive in days
(DBN)

Donald Trump Jr. taunts Zelenskyy about 'losing your allowance'
(DBN)

Musk joined Trump’s war call with Zelenskyy Trump's advisors are laying out plans on how to end the war in Ukraine
(DBN)

Ukraine keeps finding Western parts in Russia's weapons, this time in the wreckage of its new heavy Hunter drone
(DBN)

Europe on alert as 4 countries tipped to be next on Vladimir Putin's invasion hit-list
(DBN)

Putin came so close to launching a nuke in Ukraine that crisis meetings were held over the fallout hitting Britain
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Germany:

German politician resigns after sex doll post with Nazi logo
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India:

Jet Airways insolvency: A blow to IBC’s credentials
(DBN)

[Byju's Insolvency] RP has created absolute chaos: Creditors to NCLT
(DBN)

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Mexico:

Round 2 in the Trump-vs-Mexico matchup looks ominous for Mexico
(DBN)

Horror video shows gunmen storm bar & kill 10 in tourist hotspot as bullets ricochet across building in random attack
(DBN)

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Netherlands:

Bill Ackman plans to pull his companies out of Amsterdam after antisemitic attacks Tram set on fire in Amsterdam riot as tensions remain high Violence reignites in Amsterdam as tram set on fire days on from 'anti-Semitic attacks' 'Cancer Jews': Trams set alight, violence erupts in Amsterdam in second wave of violence Israel lashes out at 'very low' number of arrests made after 'Jew hunt' attack on Maccabi Tel Aviv fans in Amsterdam
(DBN)

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Belgium:

Antwerp police arrest five, as fears of a 'Jew hunt' rise following calls to action on social media
(DBN)

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China:

Trump Is Set to Elevate China Hawks, Deepening Beijing Rift
(DBN)

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Brazil:

InterCement Bondholders Allege Creditor Conflict in Debt Rework
(DBN)

Retail Investors Are Paying Price of Brazil’s Farm Credit Slump
(DBN)

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Cuba:

Cuba Struggles to Restore Electricity, Order Amid Mounting Woes
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