November 27, 2024

The Daily Bankruptcy News

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Due to the Thanksgiving holiday, The Daily Bankruptcy News will not publish on Thursday and Friday, November 28 and 29, 2024



Law:

Global Biglaw Firm Delights With News Of Associate Bonuses
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Top 50 Biglaw Firm Unleashes Much-Awaited Milbank Bonus Match
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Busy Associates Are Rewarded Generously At This Biglaw Firm
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Brand New Megafirm Makes Its Very First Bonus Announcement
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This Top Biglaw Firm Is Offering Associates ‘Exceptional’ Bonuses On Top Of Special Bonuses
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Top 30 Biglaw Firm Showers Associates In Milbank Money
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Lawyer Sanctioned Over AI-Hallucinated Case Cites, Quotations
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After Losing Partners And Profitability, Top 100 Biglaw Firm Is Reportedly Seeking Merger Partner
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Biglaw Firm, Biglaw Money! Check Out This Bonus
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3 practice leaders left this BigLaw firm in 1 week’s time; ‘there are no safe havens,’ says recruiting firm partner
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BigLaw firm and ex-partner who sued for age bias agree on dismissal
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Supporting Survivors: ABA and its members have shaped the Violence Against Women Act for 30 years
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US Response to ICC Netanyahu Warrant Could Deal Death Blow to International Law
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Schiff on Smith decision to dismiss Trump cases: ‘A serious mistake’ Jack Smith Plans to Release Report Before Donald Trump is Sworn In
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How prosecuting Trump backfired
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Angry Rudy Giuliani argues with judge overseeing defamation payout: 'I can't pay my bills' Rudy Giuliani Loses His Lawyers, and His Cool, in Court Giuliani rages in court as judge warns he could face sanctions in defamation case: ‘I don’t have a penny’ Giuliani Lawyers Set to Exit $146 Million Defamation Suit NYC judge excuses Rudy Giuliani lawyers, refuses to delay trial amid courtroom outburst from ex-mayor
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Joe Biden’s Final Decision Will Be His Toughest — And Most Personal
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Homan says he is willing to put Denver mayor ‘in jail’ over deportation position Trump Is Banned From Separating Families at the Border Again. Will He Fight It?
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Trump’s hush money case in limbo after judge adjourns sentencing
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Repealing no-fault divorce has so far stalled across the US. Some worry that’ll change under Trump.
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Trump Team Eyes Using State And Local Police For Immigration Enforcement Surveillance tech advances by Biden could aid in Trump’s promised crackdown on immigration Officials May Close Huge N.Y.C. Migrant Shelter, Fearing Trump Crackdown Presidents have used immigration ‘parole’ since the 1950s. Now it could disappear under Trump
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Police departments across U.S. are starting to use artificial intelligence to write crime reports
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Animal rights extremist wanted for U.S. bombings caught after decades on the run
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No Jail For Indiana Driver Who Pleaded Guilty In Road Rage Shooting Incident That Severed Victim's Spine
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'She called “the most famous Rabbi in America” a murderer': Owens sues Rabbi Boteach
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FBI on Verge of Reopening DB Cooper Case
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TikTok influencer arrested after posting videos with allegedly shoplifted Target haul
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Fox News guest who slams San Francisco’s crime and drug use is arrested for working as pimp
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Florida judge cites crosswording juror in mistrial grant; ‘I didn’t know it was a bad thing,’ juror says
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Judges:

US Judges Make Unusual Hill Push for Bill on Overwhelmed Courts
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Back When We Had Ethics Codes For High Court Justices
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The Trans-Rights Showdown at the Supreme Court
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The Senate Should Leave No Judgeship Unfilled
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Are police responsible for damaging home to oust suspect? Sotomayor and Gorsuch see important issue
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Presumed vindictiveness of increased sentence imposed by federal judge requires do-over, 4th Circuit says
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Wall Street:

Stock futures are little changed as Wall Street awaits Fed’s preferred inflation reading
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Layoffs:

 

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Climate:

Are All These U.N. Climate Talks Doing Any Good?
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What Could Happen If Trump Withdraws the U.S. from the Paris Agreement Again
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Taxing Farm Animals’ Farts and Burps? Denmark Gives It a Try.
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Trump and the AI Power Boom Are Putting Utility Climate Goals at Risk
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Healthcare:

Steward is gone from Mass. But its collapse still reverberates
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Sharon Hospital’s Financial Situation Dire Prior to Steward Bankruptcy
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CareMax may sell dozens of senior healthcare clinics in bankruptcy restructuring
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Texas bill would reclassify abortion drugs as controlled substances
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Greg Abbott Threatens Hospital Over Doctor's Viral Video on Migrants
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Another Emergency Medicine Staffing Firm Goes Under
(DBN)

Things aren’t looking good for infamous CEO of “health care terrorists”
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US membership in the World Health Organization is on the line with Trump’s return
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Global deaths from assisted dying surpass 30,000 in a year
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Medicare coverage of weight-loss drugs would drive up costs by billions of dollars
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Tech:

Akamai receives approval to acquire select assets from Edgio Akamai’s winning bid for Edgio’s select assets gets bankruptcy court approval
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How Bluesky rose out of Twitter’s ashes to challenge X and Threads
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3 Men Plunge To Death In Car After Google Maps Directs Them To Take Unfinished Bridge
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Writers condemn startup’s plans to publish 8,000 books next year using AI
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Retailing:

Retailer Kohl's Says It Is Taking 'Aggressive Action' After Sales Plunge Nearly 10%
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This Discount Retailer Is Finding New Locations Where Others Are Trying to Leave
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Target is losing its high-income shoppers to Walmart
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Banking:

Bank Of America Down A Notch On 'Too Big To Fail' List
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Autos:

Broken EV Dreams: Lordstown's Bankruptcy And $10M Investor Settlement
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Trump’s Tariffs Would Deal a Big Blow to the Auto Industry Why GM, Ford stocks are falling after Trump's tariff plan for Mexico and Canada
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Why Trump's expected tax credit move could fragment EV market
(DBN)

Leaked BYD Letter Signals China EV Price War Is Set to Intensify
(DBN)

Elon Musk rips Calif. Gov. Gavin Newsom for ‘insane’ move to exclude Tesla from rebate plan
(DBN)

‘Sewage Pipe of Lies’: Elon Musk Attacks WSJ Article Reporting On His Factory Dumping ‘Toxic Pollutants’ Near Austin
(DBN)

Nissan in crisis – 12 to 14 months to survive, investors needed, Honda EV partnership could be pivotal
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Cannabis:

Struggling pot company Canopy Growth taps turnaround pro from outside the industry as CEO
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Economy:

Fed Kept Options Open on Rate Cuts, Minutes Show Fed eyes 'gradual' approach to cutting U.S. interest rates, minutes show FOMC Minutes: "appropriate to move gradually toward a more neutral stance"
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Fed's 'bumpy' road to low inflation seen getting another jolt from PCE price gauge
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Donald Trump selects Kevin Hassett to lead National Economic Council
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Trump’s proposed tariff hikes would boost inflation by nearly 1%, Goldman says ‘A shot at the bow’: Trump puts trading partners on notice ‘Good Luck America’: Veteran Journalist Finds Stunning Paradox In CBS Poll On Trump’s Tariffs And Plan to Lower Prices TGoldman Sees ‘Significant’ Hit to US From Trump’s Canada Tariffs rump's tariff threats against Mexico and Canada sound a lot like a negotiating tactic we've seen him use before Mexico’s president on Trump threat: ‘One tariff would be followed by another in response’ Trump’s proposed tariffs against Canada and Mexico may be illegal, but that’s not the real problem Here are the fruits and vegetables from Mexico that could see higher prices from Trump tariffs How a US ally could strike back against Trump tariffs Mexico, China, Canada warn Trump against tariff tit-for-tat Trump tariffs would harm all involved, US trade partners say China Warns 'No One Will Win' After Trump Vows To Impose New Tariffs On Top Trade Partners Democratic senator: No reason to doubt Trump is serious about tariffs Donald Trump’s Big Tariff Plan Will Cost Americans Trudeau says he spoke to Trump in wake of tariff threat Trump’s sharp tariff hikes could speed up China’s shift to new markets and offshore factories Automaker shares fall as Trump threatens 25% tariff on Mexico and Canada Trump Heralds Unease in Global Halls of Power With Tariff Threat Constellation Brands’ stock falls as Trump tariff plan threatens to make Modelo more expensive Trump’s tariff plan is an inflation plan Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief Why Trump foes can't block day-one tariffs on China, Mexico and Canada 10 key takeaways for investors from Trump's latest tariff threats Oil watchers say inflation risks will stave off Trump’s Canada tariff threat Canada’s Oil Patch Warns Trump’s Tariffs Would Raise US Gasoline Prices
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Trump’s Trade Chief Advocates ‘Strategic Decoupling’ From China
(DBN)

Europe Awaits Trump Tariff Clash With Its Own New Trade Powers
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Consumer confidence jumps to 16-month high as Americans see the economy improving
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The man who will have to make Trump’s sweeping economic program work
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House, Senate GOP battle over length of Trump tax cut extension
(DBN)

Musk targets Trump’s favorite fighter jet How Elon Musk’s plan to slash government agencies and regulation may benefit his empire Musk 'Terrified' by $36 Trillion US National Debt Americans may think twice when Musk and Ramaswamy try to break the things they value
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Here's How Much Money Blue States Opposing Trump Could Lose, If His Border Czar Follows Through On His Threats
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Innovative program aims to increase child care options and pull women into the workforce
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Gig work and startups aren't the secret to your job success anymore. This is.
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Trump is promising big cuts. Impoundment is one axe he wants to wield
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US Debt Clock
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World Debt Clock
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Real Estate:

New-home sales plunge 17% in October New Home Sales Decrease Sharply to 610,000 Annual Rate in October New-home sales plunge to a two-year low following hurricanes in the South
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ICE: "Home price growth edged slightly higher in October"
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MBA: Mortgage Applications Increased in Weekly Survey
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Homebuyer demand for mortgages jumps 12%, after first interest rate drop in over 2 months
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The 10 largest mortgage lenders
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Home-price growth has 'stalled,' Case-Shiller says Case-Shiller: National House Price Index Up 3.9% year-over-year in September
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The minimum qualifying income for a home in the Bay Area is now $320,000
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Florida Home Sales Plunge As Sunshine State Becomes Less Desirable
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Oil/Gas:

Auto industry’s shift toward EVs is expected to go on despite Trump threat to kill tax credits When will Trump and congressional Republicans end the $7,500 EV tax credit? One estimate says Jan. 1, 2026.
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Trump's oil-drilling plans may pose a big problem for OPEC+
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Trump plans no exemption for oil imports under new tariff plan, sources say
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OPEC’s Dilemma: Another Year of Oil Supply Curbs or Price Slump
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Top Oil Traders Say OPEC+ Has Little Room to Increase Supply
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Politics:

GOP senators squirm over sex-related allegations against Trump Cabinet picks The first splits are emerging in Trump’s new Republican party NAACP president: Trump Cabinet poses ‘daunting outlook’ for next four years 5 takeaways as Trump rounds out his second Cabinet 5 things to know about Trump Agriculture pick Brooke Rollins Trump adds senior Vance aide and 2 others to White House team Trump weighing O’Neill for HHS deputy secretary Trump eyes AI czar Trump Betrays the Truckers With Chavez-DeRemer Top Trump picks have ties to Project 2025 Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH Trump selects Jamieson Greer as U.S. trade representative Kari Lake as ambassador to Mexico? Aren't tariffs punishment enough? Trump officials to receive immediate clearances and easier FBI vetting
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California’s Newsom Sets Himself Up as a Foil to Musk and Trump
(DBN)

Congress may have to ‘put the brakes on’ some uses of presidential power, Thune says
(DBN)

Trump’s expanding business ties come under ethics spotlight After delay, Trump signs agreement with Biden White House to begin formal transition handoff Trump won about 2.5M more votes this year than he did in 2020. This is where he did it Germany’s Merkel: Trump ‘does not believe in any win-win situation,’ making collaboration difficult Trump rips New York Times over coverage, asks for apology Donald Trump won the election. Now he’s losing it Trump team barred from agencies amid legal standoff How the Trump transition ethics pledge differs from recent norms Could Trump sideline government watchdogs? Some are already quitting.
(DBN)

Kari Lake in ‘Active Negotiations’ to Join Newsmax After Senate Loss
(DBN)

Lauren Boebert Cameo page disappears amid House ethics concerns
(DBN)

Mega-donor: Democratic overspending disqualifies Harris ‘forever’ Harris is telling her advisers and allies to keep her political options open
(DBN)

This is the new progressive strategy for warring with Trump
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Florida's takeover of the GOP is about to transform Washington
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Piers Morgan, who called cancel culture ‘fascism,’ wants The View to be canceled
(DBN)

Blinken and U.S. Allies Struggle with Wars as Biden’s Presidency Wanes
(DBN)

Joshmentum: Across the United States, voters are embracing the Jewish Josh
(DBN)

How political hatred turns people against everything from chocolate to charities
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AP finds that a Pentagon-funded study on extremism in the military relied on old data
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The American far right is emboldened by the return of Donald Trump
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Pageants:

Miss America Pageant in Bankruptcy Court After Ownership Spat
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History:

The price America paid for its first big immigration crackdown
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Nursing Homes:

Construction company finds niche converting defunct nursing homes into market rate apartments
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Fintech:

Trustee Report Sheds New Light on Synapse Bankruptcy
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Steel:

China’s Steelmakers Narrow Losses But Conditions Still Bleak
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Fraud:

Adani Says Founder Not Named in US FCPA Charge, Shares Rise
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Education:

Bids are sought on nine UArts properties
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Muslim schoolgirl admits lying that her teacher was Islamophobic - which led to him being decapitated by a jihadist - because she was suspended for two days and worried her parents would be angry
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (19 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (6 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Arbitration:

Bankruptcy Overrides Arbitration In A Claim Objection Proceeding (In re Bridger)
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Mass Torts:

The Onion’s purchase of Infowars is still on hold for a few more weeks — at least The Onion’s Bid to Turn Alex Jones’ Infowars Into a Parody of Itself Remains on Hold
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Alex Jones Hires New Counsel For Screaming Tantrum Phase Of Bankruptcy
(DBN)

Elon Musk wants to block the transfer of InfoWars’ X accounts to The Onion Elon Musk Claims ‘Superior Ownership’ Over Alex Jones, Infowars X Accounts as The Onion Pursues Acquisition 'Highly unusual': Elon Musk's X objects to very specific piece of The Onion's Infowars bid X says The Onion can’t have Alex Jones’ Infowars accounts X's Objection to the Onion Buying InfoWars Is a Reminder You Do Not Own Your Social Media Accounts
(DBN)

Judge Skips Over Sanctions in Talc Bankruptcy: 'That's A No'
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Five abuse claimants to represent creditors in Vermont Catholic bankruptcy case
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Bankruptcy Rules:

SDNY Amends Local Bankruptcy Rules To Streamline Chapter 11 Processes
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Exemptions:

Homestead Exemption: Double Exemption Available Where Debtor Does Not Have Sole Ownership Of Residence
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Aviation:

Why frequent fliers should be grateful for Spirit Airlines this Thanksgiving Spirits Airlines filed late earnings — and they show how bad things got before bankruptcy
(DBN)

Senate report slams airlines for raking in billions in seat fees
(DBN)

Thai Airways seeks to raise up to $1.27 billion to exit restructuring plan
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Aircastle withdraws insolvency case against SpiceJet after $5.6 mn settlement
(DBN)

Lithuanian DHL plane crash could be sabotage, German foreign minister says
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Autos:

EV maker Rivian gets $6.6 billion federal loan to finish Georgia plant
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Motorcycles:

KTM attempts to stave off bankruptcy with restructuring KTM to enter self-administration amid financial struggles Pierer Shares Slump as KTM Unit Files for Insolvency in Austria
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Batteries:

How to Analyze the Northvolt Bankruptcy Using Toyota’s ‘Five Whys’ Technique Northvolt Hires Houlihan Lokey as It Seeks Funds for Turnaround
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Hydro Pulls Plug on Green Hydrogen and Battery Projects
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UK:

UK Supreme Court Begins Case on Definition of 'Woman'
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London's oldest meat market to close after 900 years
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‘We don’t want to go bankrupt’: Stockport council defends £59 charge
(DBN)

Brighton i360: Seafront landmark files for insolvency
(DBN)

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EU:

ECB’s Schnabel Sees Only Limited Room for Further Rate Cuts
(DBN)

German consumer sentiment tumbles in December on job cut fears, GfK report shows Germany’s industrial bloodbath leaves politicians fumbling for answers
(DBN)

Ziegler Holding, Owner of One of Europe’s Largest Sawmills, Declares Insolvency
(DBN)

French consumer morale hits 5-month low as political crisis looms France’s far right propped up the weak government. It could now bring it crashing down Le Pen’s Party Yet to Decide on Toppling French Government French Bond Spreads Widen Again With Government Fears Mounting
(DBN)

‘Europe’s Detroit’ built a thriving car industry. Trump tariffs now threaten to unravel its success
(DBN)

On EU 'no' vote anniversary, more Norwegians want to join bloc
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Canada:

Bank of Canada, Fed should focus on rising delinquencies, defaults, bankruptcies 'before it's too late'
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Agfinity declares bankruptcy
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Canada braces for surge of immigrants hoping to move from US
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Russia:

Europe must 'wake up' to win arms race, NATO commander warns NATO Vows Ukraine Backing After Russian Missile 'Intimidation'
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US Sanctions Hit Ruble as Russia’s FX Sources Are Drying Up
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Fears swarms of Russian drones are targeting US airbases in UK which are set to store nuclear missiles
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America’s new declinists are deluded about the consequences of letting Putin win
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Russia Says Ukraine Struck Inside its Territory with U.S.-Made Missiles, Again
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Russia accelerates advance in Ukraine's east
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MENA:

Israel-Hezbollah ceasefire live: Netanyahu unveils deal Biden says Israel-Hezbollah ceasefire will take effect Wednesday morning Israel-Hezbollah ceasefire takes effect Netanyahu Issues Warning As He Announces Support For Hezbollah Ceasefire Plan: 'I'm Prepared To Do Anything To Keep Iran From Getting A Nuclear Weapon'
(DBN)

Zone of destruction: Israeli forces demolish much of southern Lebanon
(DBN)Prospect of Lebanon ceasefire leaves Gazans feeling abandoned
(DBN)

Biden Didn’t Really Try to End the War in Gaza
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Eyewitnesses in Gaza say Israel is using sniper drones to shoot Palestinians
(DBN)

Israeli government failed in 'its duty to protect its citizens,' civilian-led probe into Oct. 7 finds
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Venezuela:

Maduro Purges Rivals From Venezuela With Wave of Repression
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China:

China’s Industrial Profits Extend Fall on Deflation Woes
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Evergrande Founder Hui Barred From Splurging by Chinese Court
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Violent attacks in China fuel concerns some are ‘taking revenge’ on society
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Hong Kong:

US Lawmakers Warn Hong Kong Becoming Financial Crime Hub
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Brazil:

Creditors Plan Capital Injection For HIG’s Kora Saude
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Brazil’s Bolsonaro participated in a 2022 coup plot, unsealed police report says
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New Zealand:

New Zealand is up in arms over Maori rights bill
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India:

Govt working on integrated platform to speed up resolution processes
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Argentina:

Betting on Milei, Argentine Investors Choose Longer Duration: Shock Therapy
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Panama:

Panama’s Debt Downgraded by S&P to Lowest Investment Grade
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