September 4, 2024

The Daily Bankruptcy News

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3-Column Formating

 

Law:

The Pro Mid-Market 50: Ranking The Top Law Firms Just Outside The Am Law 200
(DBN)

What Law Firms Should Be Doing to Stop Their Own Would-Be Crooks
(DBN)

General Counsel Really Can Take In Some Big Bucks
(DBN)

Biglaw Firm Pushes Out The Boat With Hiring Blitz
(DBN)

Former Littler lawyer drops California suit against firm, bringing end to departure dispute
(DBN)

The Power Of Quitting Biglaw To Pursue A Childhood Dream
(DBN)

Despite lyrics mistake by AI, lawyer wasn’t ineffective for using tech in rapper’s case, federal judge says
(DBN)

Big Law Grows Litigation Finance to Cut Risk, Please Clients
(DBN)

Trump Files Hail Mary Motion Demanding Federal Judge Cancel NY Case New York prosecutors urge judge to reject Trump delay tactics in hush money case Alvin Bragg's Office Fights Trump's Effort to Delay Hush Money Proceedings Trump loses bid to move hush money case to federal court Former DOJ lawyer on DA's team takes dig at Trump's Jan. 6-related hush-money delay tactic
(DBN)

Trump's really not going to like the judges set to hear arguments in E. Jean Carroll case
(DBN)

Trump to skip arraignment in federal election interference case
(DBN)

Man who sprayed mace at cops on Jan. 6, called his arrest 'a bit overdramatic' sentenced
(DBN)

Judge Shuts Down Donald Trump's Dance Party
(DBN)

Imprisoning Donald Trump With Secret Service Would Be 'Logistical Nightmare'—Attorney
(DBN)

11th Circuit 'Will Reverse' Judge Cannon's Mar-A-Lago Dismissal: Attorney
(DBN)

Inside the bitter personal battle between top FBI and DOJ officials over Mar-a-Lago
(DBN)

10-year-old allegedly kills ex-mayor and his adult daughter over argument about video game
(DBN)

Ex-top aide to N.Y. Gov. Kathy Hochul arrested on charges of acting as agent of Chinese government
(DBN)

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Judges:

Watchdog group calls for removal of Trump-appointed judge in classified documents case
(DBN)

A plan to solidify Biden’s legacy on judges
(DBN)

In ‘Lovely One,’ Ketanji Brown Jackson Credits the Mentors Who Lifted Her Up Justice Jackson Had ‘Wrenching’ Time as Big Law Working Mom Ketanji Brown Jackson Doesn't 'Have Any Problem' With A Supreme Court Ethics Code
(DBN)

Conservative Justices Split in New Supreme Court Order
(DBN)

Sorrento Therapeutics Restructuring Chief Hosted Party for Judges Who Later Oversaw Its Liquidation
(DBN)

Judge accused in drive-by shootings has progressive brain disease, court filing says
(DBN)

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Wall Street:

Stock futures extend losses after worst S&P 500 day since early August rout
(DBN)

European markets lower; tech stocks down 2.4% following declines on Wall Street
(DBN)

Nikkei sees worst day since early August sell-off; Taiex leads losses in Asia as tech stocks fall
(DBN)

Why Fed rate cuts could mean corporate earnings will disappoint
(DBN)

JPMorgan says Fed rate cuts won't be the rocket fuel for stocks some expect
(DBN)

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Layoffs:

Swedish Mobile Operator Telia Plans to Cut 3,000 Jobs
(DBN)

Nearly 40% of Michelin workforce opts for voluntary severance amid downsizing plans
(DBN)

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Politics:

Harris Hangs On To Overall Lead, But Trump Maintains His Hold On Vital 'Swing States': I&I/TIPP Poll Polls reveal paths to victory for Harris and Trump What the polls show about Harris’s chances against Trump The state of the 2024 race, explained in 7 charts Kamala Harris' Lead Over Trump Being 'Steadily Cut'—Poll Don’t Flip Out Over Election Forecasts
(DBN)

Harris' campaign shares $24.5M with down-ballot Democratic races Philadelphia Eagles deny endorsing Kamala Harris after fake ads pop up around the city Kamala Harris Has Energized Democrats So Much, They Think They Can Win the South Kamala Harris heads into Trump debate with lead, rising enthusiasm Meet the Silicon Valley billionaires, founders, and investors backing Kamala Harris Carville lists ‘imperatives’ for Harris to become ‘certified fresh candidate’ Clinton strategist Carville urges Harris to split from Biden's policy McCain’s son rips Trump Arlington photo op, backs Harris Musk posts fake image of Harris in communist garb X users play Elon Musk at his own game after he posts AI image of Harris as communist dictator How Kamala Harris Is Taking On Trump’s Faux-Populism How Kamala Harris Could Beat Donald Trump in Pennsylvania
(DBN)

The map is wide open and the attack ads are coming in ‘snap election’ between Harris, Trump The presidential campaigns brace for an intense sprint to Election Day
(DBN)

Trump making increasingly bizarre God claims while losing grip on Christian voters Trump calls Arlington cemetery incident ‘a made up story’ McCain’s son rips Trump’s Arlington photo op, backs Harris Trump campaign ‘no longer thinks New Hampshire is winnable and is pulling back from state,’ leaked insider email claims How Trump Created a Rift With, and Within, the Anti-Abortion Movement Donald Trump is losing it ‘The Apprentice’ First Footage: Sebastian Stan’s Donald Trump Voice Revealed Trump’s nephew: Former president ‘doesn’t give a s--- about’ soldiers Donald Trump Compared to 'The Godfather' Character by Nephew Fred RFK Jr.'s name must stay on Michigan ballot, judge rules Trump Blames Harris for Arlington National Cemetery Story: ‘She Made It All Up’ Swing-state Senate races looking bad for Trump’s election Trump Ordered to Stop Using Isaac Hayes Song at Rallies Trump and allies plant seeds for ‘chaos and discord’ if he loses, experts warn The conduct of some Trump supporters is crude, sleazy and...deplorable Trump Aides Evacuated Offices After Prank Sparked Bugging Fears Jan. 6 Awards Gala at Trump’s New Jersey golf club postponed Trump smiles at question about Congress doing shrooms, teases forthcoming drug policy on podcast
(DBN)

JD Vance's "anytime, anywhere" media strategy Sen. Vance, should we ‘go to hell’ too? JD Vance takes 'Worst VP pick ever!' crown from Sarah Palin, and gets less likable every day
(DBN)

Vulnerable Dems clamor for Walz on campaign trail
(DBN)

Elon Musk Says He ‘Can’t Wait’ to Join Trump Administration
(DBN)

Chinese-linked online network is stoking U.S. political divisions: report
(DBN)

Private equity PAC favors Republican candidates
(DBN)

Dems pummel Ex-Freedom Caucus chief on abortion
(DBN)

Texas AG Paxton targets voter registration in state's biggest Latino counties
(DBN)

Former GOP senator says he won’t vote for Trump or Harris
(DBN)

A louder voice in fighting abortion bans: Men in red states
(DBN)

House Dems ask Trump for proof he never took $10 million ‘cash bribe’ from Egypt
(DBN)

Whistleblower who warned about plan to put golf, hotels in Florida state parks is fired
(DBN)

North Carolina election board faces 5th lawsuit in 40 days
(DBN)

Texas AG Ken Paxton threatening to sue Harris and Bexar counties over voter registration
(DBN)

The Political Rage of Left-Behind Regions
(DBN)

How NAFTA Broke American Politics
(DBN)

Tucker Carlson Starstruck By Historian Who Calls Churchill, Not Hitler, the ‘Chief Villain’ of WW2 and Casts Holocaust as Accident
(DBN)

Control of U.S. House may come down to six races in California
(DBN)

New gun group launches to fill NRA vacuum
(DBN)

Biden is suddenly seeing his best polls in years
(DBN)

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Retailing:

Rite Aid emerges from Chapter 11 bankruptcy leaner and privately owned by creditors Rite Aid Picks Insider CEO As Company Emerges From Bankruptcy
(DBN)

Big Lots to offer major Halloween discounts as bankruptcy looms
(DBN)

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Climate:

Southern California heat wave to bring temperatures up to 119 degrees Heat wave to scorch Southwest, West as wildfire concerns increase
(DBN)

Unprecedented Venice Heat Wave Leaves A-List Stars and Their Handlers Dripping in Sweat
(DBN)

Electric vehicles are the future. What happens to our gas-guzzling cars?
(DBN)

Heat Warnings Issued as Hottest Summer Ever Recorded in Phoenix
(DBN)

Hottest summer on record for Las Vegas; average summer temperature 107 degrees
(DBN)

China Just Had Its Hottest Summer, But Heat Threat Isn’t Over
(DBN)

Risks Too Big for Insurers Feed a $200 Billion Market Boom
(DBN)

September's scorching start: Heat records could fall in Southwest and West Coast
(DBN)

An 83-Year Rainfall Record Is Shattered in Texas
(DBN)

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Food/Beverage:

Courts begin to clear restaurant bankruptcy filings
(DBN)

A private equity firm saved Portland restaurants from bankruptcy. Then it stopped paying its bills
(DBN)

Why are so many restaurant chains filing for bankruptcy this year?
(DBN)

BurgerFi does not comply with Nasdaq listing requirements, new deficiency notices say
(DBN)

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Software:

Ebix exits Chapter 11 bankruptcy
(DBN)

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Economy:

The Fed welcomes a 'soft landing' even if many Americans don’t feel like cheering
(DBN)

Weak manufacturing measures raise specter of U.S. economic slowdown US Manufacturing Activity Contracts for a Fifth Straight Month
(DBN)

Forecasters get more overconfident the further into the future they look
(DBN)

FactCheck: “Prices are up because these corporations are scheming to drive them up.”
(DBN)

‘Rush’ hour isn’t what it used to be. Working 10-to-4 is the new 9-to-5, commuting data shows
(DBN)

These are the most common mistakes companies make that land their workers fat settlements, according to employment lawyers
(DBN)

Can Democrats Stop the ‘Tax Doom Loop’?
(DBN)

Harris readies aggressive tax relief boost for new small businesses Harris to propose $50,000 tax deduction for small business startup expenses, ahead of Trump debate
(DBN)

FactCheck: Former President Donald Trump "intends to enact what, in effect, is a national sales tax ... that would raise prices on middle-class families by almost $4,000 a year."
(DBN)

Kevin O’Leary says ‘right to disconnect’ laws are crazy and he’ll just fire staff who don’t answer his texts and calls
(DBN)

The Black Hole of Private Credit That's Swallowing the Economy
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

When Property Investors Want Out, These Bargain Hunters Rush In
(DBN)

Harris Has a Plan to Raise Homeownership. Builder Stocks Rejoice
(DBN)

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Municipalities:

If Puerto Rico bankruptcy ruling stands, it could devastate municipal borrowing
(DBN)

How an Ohio Town Landed in the Middle of the Immigration Debate
(DBN)

New water meters help rescue Oliver Springs from near-bankruptcy
(DBN)

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Oil/Gas:

Biden Grants First New LNG Approval Since Freezing Permits
(DBN)

U.S. crude oil falls nearly 4%, erases 2024 gains with supply poised to rise as demand falters
(DBN)

WTI Breaks Below $70 as Concerns Over Oil Demand Persist
(DBN)

Oil prices extend slump on likely restoration of Libyan production, OPEC+ plans to raise output
(DBN)

California city’s $550m deal with Chevron could be a national model for environmentalists
(DBN)

It’s time to force the oil industry to clean up toxic oil wells in California
(DBN)

The U.S. Tightens The Screw Again On Russia’s Vital LNG Sector
(DBN)

____________

Crypto:

Crypto Firm Galois to Pay SEC Penalty Over Use of FTX Accounts
(DBN)

____________

Television:

Cable TV's collapse deepens: 'It is becoming increasingly clear that there is no longer any floor'
(DBN)

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Labor:

Labor Day hotel strikes reflect the frustrations of a workforce largely made up of women of color
(DBN)

Volkswagen braces for showdown with unions after warning of possible German plant closures Volkswagen faces tense townhall as workers battle possible plant closures VW warns time running out as clashes with workers over cuts German Cabinet Approves EV Tax Incentives Amid Volkswagen Woes
(DBN)

US Port Talks Kick Off in Bid to Avoid Economy-Disrupting Strike
(DBN)

____________

Tech:

Starlink in Brazil’s crosshairs as spat over Elon Musk’s X escalates No X in Brazil? No problem, Brazilians say Musk’s Starlink Backs Down, Agrees to Block X in Brazil
(DBN)

Elon Musk Would Rather Have Twitter Shut Down Than Take The Smallest Amount Of Responsibility
(DBN)

OpenAI, Still Haunted by Its Chaotic Past, Is Trying to Grow Up
(DBN)

Congress sets first hearing on CrowdStrike outage
(DBN)

Teachers still can't trust AI text checkers
(DBN)

New Texas law takes effect requiring parental approval for children to create social media accounts
(DBN)

Justice Department takes a major step toward an antitrust lawsuit against Nvidia Nvidia just recorded the biggest single-day wipeout by a US company Nvidia down 2% in premarket trading after plunge that wiped out nearly $300 billion in market cap Nvidia Gets DOJ Subpoena in Escalating Antitrust Probe
(DBN)

Shorts Are Circling Some of the AI Boom’s Biggest Question Marks
(DBN)

Tech workers now doubting decision to move from California to Texas
(DBN)

TikTok algorithm eliminates defense in suit alleging ‘Blackout Challenge’ led to death, 3rd Circuit says
(DBN)

____________

Healthcare:

Steward sale hearing today as objections pile up over hospital deals Steward hospitals sale objectors include IRS, Archdiocese of Boston
(DBN)

Health shrinkflation: Patients wait more for less
(DBN)

Mpox Outbreak Hits Iowa Prison As Multiple Inmates Infected
(DBN)

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Cannabis:

Marijuana could become a key election issue as a major policy shift looms
(DBN)

____________

Autos:

One more death in US, the 28th, is attributed to Takata air bag inflators that can spew shrapnel
(DBN)

Former VW chief goes on trial nine years after dieselgate
(DBN)

____________

Education:

A stunning reversal on academic boycotts is all about Israel
(DBN)

Schools rethink homework
(DBN)

Pro-Palestinian Protesters Return to Columbia on First Day of Classes
(DBN)

Surprise! A Class of College Seniors Learns Their Tuition Will be Free.
(DBN)

Judge dismisses lawsuit that said teaching evolution was 'forcing' kids to accept atheism
(DBN)

____________

Festivals:

Burning Man Attendees Blasted by Giant Dust Storm During Desert Exodus Burning Man's rich list 'fly off in private plane' as hard-up revellers face poo reality
(DBN)

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Maritime:

This time the US Navy has moved to confront the puppet master, not the puppets
(DBN)

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Media:

This Texas Woman Was Jailed for Her Journalism. Is She the Future of Media?
(DBN)

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Student Debt:

30 million student-loan borrowers who were about to benefit from Biden’s second try at broad debt cancellation are now facing the first lawsuit to block it
(DBN)

Republicans Sue Biden Again Over Student Debt Relief
(DBN)

____________

Sports:

Court OKs Diamond Sports' NBA, NHL Deals Ahead of Key Fall Hearing Judge Approves NBA, NHL Deals for Diamond Sports Amid Bankruptcy
(DBN)

MLB’s Patience Wearing Thin As DSG Eyes November Bankruptcy Exit
(DBN)

____________

Flooring:

Bankrupt LL Flooring pivots to full liquidation, issues layoff notices for hundreds of local workers
(DBN)

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Taxis:

‘I Don’t See No Future’: Hundreds of Taxi Drivers Left in Debt as Lenders Balk at Loan Deal
(DBN)

NYC’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown
(DBN)

____________

Corporate Governance:

More About Who is an “Officer”
(DBN)

____________

Solar:

Residential Solar Firm Lumio Files Bankruptcy, Plans to Sell
(DBN)

Solar Maker Maxeon Pulls Guidance on ‘Significant’ Barriers
(DBN)

iSun to Continue Operations With New Leaders, Brand
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (35 new filings today)
(DBN)

Recent Ch. Adversary Proceeding Filings (3 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Arbitration:

“Federal Policy Favoring Arbitration” Is Actually “To Make Arbitration Agreements As Enforceable As Other Contracts, But Not More So” (Brown & Sundance)
(DBN)

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Reclamation:

Courts are Divided on Whether Electric Energy is a "Good" under Section 503(b)(9) of the Bankruptcy Code
(DBN)

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Safe Harbors:

Section 546(e) Safe Harbor Provision Applies to Transactions Involving Private Securities
(DBN)

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Discovery:

U.S. Bankruptcy Courts Balance the Statutory Protections of Stakeholders with the Needs of Discovery in Foreign Bankruptcy Proceedings
(DBN)

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Proceeds:

A Prepetition Security Interest in Accounts does not Extend to the Post-Petition Sale Proceeds of Real Property
(DBN)

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Intercreditor:

The New Rules of Debt Are Totally Cutthroat
(DBN)

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Miscellaneous:

Paul Weiss Restructuring Department Bulletin - September 2024
(DBN)

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Mass Torts:

‘Multiple’ buyers ready to bid on Alex Jones’ bankrupt Infowars; proceeds to pay Sandy Hook families
(DBN)

Ireland lifts lid on 'shocking' abuse in religious schools
(DBN)

The Boy Scouts of America’s Art Collection Heads to Auction
(DBN)

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Alter Ego:

Insider may be an alter-ego when it exercises control over a debtor
(DBN)

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Service:

Service of a Subpoena through Alternative Means: Social Media
(DBN)

____________

Sales:

Chapter 5 Avoidance Actions Can be Sold as Property of The Estate
(DBN)

Section 363(m) is Not a Jurisdictional Constraint on Appellate Review of Property Transfers
(DBN)

____________

Aviation:

Boeing Shares Slump as Wells Fargo Cuts to Rare Bearish View
(DBN)

Engine troubles for airline Cathay Pacific forces the cancellation of dozens of flights this week Major airline grounds Airbus A350 fleet, citing faulty engine component Cathay Pacific Finds 15 Planes Need Engine Repairs
(DBN)

Iconic Czech airline CSA to be wound down, OK code retired
(DBN)

____________

Autos:

China EVs, Hybrids Set to Cement Sales Lead Over Gasoline Cars
(DBN)

China’s BYD Pauses Mexico Factory Plans Until After US Election
(DBN)

Chancellor Rachel Reeves urged to impose 'pay-per-mile' scheme on electric cars
(DBN)

____________

Gambling:

NFL season expected to spur record $35 billion in legal sports wagers
(DBN)

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Sovereigns:

Ukraine Braces for IMF Pressure to Devalue Currency, Cut Rates
(DBN)

Why Sri Lanka Election Puts IMF Bailout Deal in Spotlight
(DBN)

Traders Dump Maldives Debt as World’s First Sukuk Default Looms
(DBN)

Pakistan Working to Meet IMF Requirements, Says PM Sharif
(DBN)

With $16.5bn debt, Nigeria now third largest debtor to World Bank’s IDA
(DBN)

____________

UK:

Katie Price breaks silence on bankruptcy with bizarre video as fans brand her 'childish' Katie Price has 'planned two holidays including Thailand trip amid bankruptcy hell'
(DBN)

Bankruptcy looms as Kirklees Council measures 'need to go further'
(DBN)

Welsh Water Raises Debt As Thames Problems Weigh on Sector
(DBN)

London Firm Pays £110k To Muslim Woman After Colleague Suggests She Remove Her Headscarf 'To Attract More Men'
(DBN)

____________

Canada:

Cassels Restructuring Practice Head Jane Dietrich Appointed to the Ontario Superior Court of Justice
(DBN)

Bank of Canada Seen Cutting Rates Again as Inflation Worries Fade
(DBN)

Canada turning away more foreigners amid rise in anti-immigration sentiment
(DBN)

____________

Russia:

Russia killed 49 people in Ukraine in one of the deadliest single strikes of the war More than 50 killed in Russian missile strike on Ukrainian military facility Russia kills at least 41 in huge strike that hit hospital, Zelenskyy says
(DBN)

Ukraine Electric Company Boss Fired as Russia Pounds Power Grid Ukraine’s power sector in turmoil over claims of ‘political’ purge
(DBN)

Resignation of Kyiv’s Top Diplomat Caps Sweeping Wartime Shakeup Ukraine's Foreign Minister Quits amid Wave of Government Resignations
(DBN)

Putin gets lavish welcome in Mongolia despite ICC warrant Mongolia was meant to arrest Russia’s President Putin last night. It didn’t, and now it’s in trouble Sorry not sorry, says Mongolia after failure to arrest Putin
(DBN)

Zelenskyy says Ukraine plans to indefinitely hold Russian territory it has seized
(DBN)

Ukraine appears to have developed a drone that spews fire from above
(DBN)

Ukraine's surprise invasion of Russia hasn't taken the pressure off the most dire front-line battles
(DBN)

Putin’s silent killer is choking Ukraine’s regiments
(DBN)

Sanctioned Aide to Bank of Russia Head Tapped for IMF Board Seat
(DBN)

____________

MENA:

Why is Israel's insistence on controlling the 'Philadelphi corridor' holding up cease-fire talks?
(DBN)

Netanyahu blasts ‘shameful’ UK ban on Israel arms exports
(DBN)

The awful truth: Hamas’s hostage-taking works
(DBN)

DOJ charges Hamas leaders over Oct. 7 attack on Israel
(DBN)

Why Hezbollah Is Rich and Lebanon Is Poor
(DBN)

Hamas told to execute Israeli hostages if they fear IDF are closing in Dozens of Hostages Remain in Gaza: What We Know
(DBN)

House panel subpoenas Blinken over Afghanistan withdrawal
(DBN)

____________

China:

Wall Street’s China Growth Pessimism Spreads as BofA Cuts View
(DBN)

How China extended its repression into an American city
(DBN)

____________

Venezuela:

Christmas Starts in October, Venezuela’s Autocrat Declares
(DBN)

____________

France:

French finance ministry warns of worsening deficit
(DBN)

____________

India:

Byju’s Lenders Removed From Creditor Panel by India Official BYJU’S Resolution Professional ‘Secretly Plotting’ To Reject Lenders’ $1.35 Bn Claim: Glas Trust Byju's US lenders vs interim resolution professional: Glas Trust not part of insolvency panel Byju's insolvency case: NCLT rejects US lenders' plea to stop CoC proceedings Byju’s bankruptcy: Tribunal defers decision on plea by edtech firm’s US lender US Lenders Won't Have A Say On Who Runs Byju's Amid Bankruptcy Concerns
(DBN)

Introduction of Guidelines for the Committee of Creditors - A Step in the Right Direction
(DBN)

____________

Australia:

Trio of pressures causing personal insolvency surge: Christmas likely to be a tipping point
(DBN)

Australia’s Economy Stays Subdued as Consumers Cut Spending
(DBN)

Australia Sovereign Wealth Fund Eyes Distressed Debt Investments
(DBN)

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