February 25, 2025

The Daily Bankruptcy News

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Law:

Top 5 Biglaw Firm Is Considering Creating A Nonequity Partnership Tier
(DBN)

ABA Suspends DEI Accreditation Requirements For Law Schools
(DBN)

Trump's State Bar DEI Threat Emboldens Diversity Policy Attacks
(DBN)

What happened after a Boise law partner had office sex with 2 employees in one incident
(DBN)

How Flat-Fee Pricing Can Buy Law Moms Time
(DBN)

Actual Intelligence Must Be Used When Relying on AI, Judge Says
(DBN)

Former Head of DOJ Criminal Division Heads to Cravath
(DBN)

Lawyer Big Tech Loves to Hate Wears Backlash as 'Badge of Honor'
(DBN)

Trendspotting: Biglaw Firms Opening Up Shop In Regional Hotspots
(DBN)

Fail this week’s California bar exam? Retake the July test for free
(DBN)

Partner's Outside Under Firm Name Work Draws Two-Year Suspension
(DBN)

Calling Defendant A Witch Who Controls Men With Menstrual Blood Doesn’t Work Out For Prosecutors
(DBN)

Neal Katyal, Milbank join team suing Trump over bid to oust Democratic official
(DBN)

Trump US Attorney Doesn’t Understand Constitution, Basic Grammar
(DBN)

Trump Tries To Carve Out a First Amendment Exception for 'Fake News'
(DBN)

Judge blocks OPM, Education Department from sharing personal info with DOGE
(DBN)

Giuliani has fully satisfied Georgia election workers' $148 million judgment
(DBN)

US judge to hear AP challenge to Trump's ban over use of Gulf of Mexico name Judge Rejects Associated Press Bid on White House Access Judge refuses Associated Press' request to reinstate access to White House and president 'Dear god': DOJ's vow to remain vigilant 'against entities like the AP' raises alarm
(DBN)

Hegseth Says The Quiet Part Out Loud: We Fired Top Military Lawyers To Make Sure they Aren't Roadblocks To What We Want To Do Top military lawyers are fired; will replacements allow more aggressive battlefield approach?
(DBN)

Bongino, Trump’s pick for No. 2 at FBI, ripped GOP senators Meet Dan Bongino, the FBI’s Controversial New Deputy Director Dan Bongino Will Help Turn the FBI Into Trump’s Revenge Machine FBI agents express shock and dismay over naming of right-wing podcaster to No. 2 post ‘Unqualified henchmen’: fears rise as Trump names far-right podcaster as FBI deputy director Dan Bongino, the FBI's new No. 2, spent years attacking the agency he'll now help run
(DBN)

Before he became Trump’s bulldog at DOJ, Emil Bove was nearly demoted for bellicose management style
(DBN)

Outcry as DC US attorney claims he and colleagues are ‘President Trump’s lawyers’
(DBN)

Supreme Court turns back challenges to laws keeping abortion opponents away from clinics, patients
(DBN)

I was a prosecutor for ICE despite my mom coming into the US undocumented. I quit because I was tired of people not being treated humanely Documents reveal how military contractors want to take over mass deportations Health care workers are rushing to learn about immigration law in case of ICE raids Mexican Consulate urges migrants to be prepared amid deportations
(DBN)

NYC Mayor Eric Adams to close Roosevelt Hotel migrant center targeted by Musk, Trump admin Why the Rule of Law Depends on an Evidentiary Hearing in Mayor Eric Adams’ Case
(DBN)

Sean Combs’s Former Lawyer No Longer Arguing Over Whether Diddy Did It
(DBN)

Man attacks victim in store because of his race, says he's 'tired of foreigners:' Cops
(DBN)

Authorities arrest 21-year-old Texas man plotting 'mass casualty attack' targeting police
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Woman Sues Fertility Clinic After Discovering Baby Was Not Hers
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Elon Musk's flirty text messages to 'mum of 13th child' Ashley St Clair revealed after court order
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Judges:

An Important Judicial Tool Mysteriously Goes Missing at the Supreme Court
(DBN)

Republican Moves to Impeach Judge Who Ruled Against Trump Order
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Job protections for administrative law judges are unconstitutional, DOJ concludes
(DBN)

DOJ files complaint against federal judge for alleged hostility against government lawyer
(DBN)

DOJ Demands Safe Space After Mean Judge Lady Made Them Sad With All Those Hard Questions
(DBN)

Is Judge Dale Ho Trying To Punk Paul Clement? Judge Recuses Over Policy Encouraging Underrepresented Lawyers
(DBN)

Elena Kagan Wants People To Feel Comfortable About Their Right To Criticize The Supreme Court
(DBN)

Federal judge says he will not recuse from trans athlete case over courtroom pronoun policy
(DBN)

Majority Groups May Soon See Easier Path in Discrimination Cases Straight woman lost two jobs to gay colleagues. Supreme Court will decide if she can sue.
(DBN)

Neil Gorsuch says he's not sure doctors convicted in bribery scheme should pay restitution
(DBN)

Judge scolds teen convict during sentencing for murder and armed robbery of his roommate
(DBN)

California judge testifies that he accidentally shot and killed his wife
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Wall Street:

 

US Stocks Mostly Fall As Markets Await Key Economic Data
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There's an ugly trend developing in the stock market
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BofA Sees Trading Clients on Sidelines Amid Trump Uncertainty
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Layoffs:

Federal workers sue over Musk’s threat to fire them if they don’t explain their accomplishments Trump and Musk ordering federal employees to report work is 'unlawful distraction': Unions Trump administration backtracks from latest Musk storm Musk renews his ‘5 things’ demand with Trump’s apparent support Senate Republicans criticize Musk over email to government employees Musk's 'What did you do last week?' inquiry gets an early answer: a lawsuit Federal employee unions expand lawsuit to Musk firing threat if they don’t justify work DOGE's 5-bullets email is 'an opportunity,' one federal agency told workers. Read its advice for responding In sign of division, some US agencies tell workers to ignore Musk ultimatum DOGE will use AI to assess responses from federal workers who were told to justify their jobs via email Elon Musk’s directive to federal workers to explain their productivity or get the ax could take them 165,000 hours of their workdays to complete
(DBN)

Trump urged Musk to get more aggressive. 48 hours of chaos followed. Trump posts SpongeBob meme mocking federal workers after email requesting accomplishments Trump Hails Musk Order to Federal Workers as ‘Genius’ Move Trump: Workers who don't respond to Musk's email request 'don't even exist'
(DBN)

Musk Repeats Email Ultimatum, Breaking With Agency Guidance Musk says failure to respond a second time to email will end in termination OPM tells HR leaders that response to Musk is ‘voluntary’ Federal agencies still can't agree on 'What did you do last week?' email
(DBN)

House Republican Tells Fired Federal Workers ‘God Has a Plan’ in Hostile Town Hall
(DBN)

Trump's Mass Firings of Federal Workers Spread Chaos Nationwide
(DBN)

DOGE Layoffs Pose ‘Growing’ Risk To U.S. Economy And Markets, Says Apollo Economist
(DBN)

National Park Service restores some jobs of fired employees, pledges to hire 7,700 seasonal workers
(DBN)

VA axes another 1,400 employees
(DBN)

US Student Aid Office Expects New Cuts After Losing 10% of Staff
(DBN)

Fired federal workers hunt for new jobs but struggle to replace their old ones
(DBN)

Starbucks plans to lay off more than 1,100 corporate jobs
(DBN)

What it's like to work for a company that's never done layoffs
(DBN)

The agency that regulates vehicle safety — and Elon Musk's Tesla — is another target of DOGE layoffs
(DBN)

US SEC plans to cut regional directors as agency prepares for DOGE scrutiny, sources say
(DBN)

National craft chain is going out of business, leaving 19,000 out of work
(DBN)

Forever 21 laying off 358 employees as it closes L.A. headquarters
(DBN)

New Jersey Church Lays Off 195 Workers After $18 Million Cut from US AID Used to Fund Illegal Aliens
(DBN)

Tinker Air Force Base rumored to layoff 600 civilian workers
(DBN)

Meta’s 4,000 layoffs: a masterclass in leadership failure
(DBN)

Orlando Health to lay off 900+ amid hospital closure, including execs
(DBN)

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Retailing:

Joann plans to go out of business and close all remaining fabric and craft stores Joann to shutter all 800 fabric stores after failing to find a buyer to save its locations
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Food/Beverage:

Hooters late in paying suppliers amid bankruptcy reports
(DBN)

Denny's says some locations will start charging extra for eggs amid nationwide shortage
(DBN)

NYC McDonald's Bans Customers Under Age 20 Amid In-store Violence: 'No Parent And ID, No Entry'
(DBN)

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Crypto:

Crypto and the Property Question
(DBN)

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Agribusiness:

Iowa bankruptcy judge dismisses suit that held up Pure Prairie Poultry repayments
(DBN)

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Economy:

U.S. Economic Growth Falls Back Below Average
(DBN)

Trump’s push for more control over independent regulators could sweep in the Fed
(DBN)

Amundi CIO says Donald Trump’s move to rein in regulators is a ‘big mistake’
(DBN)

Consumer sentiment slumps on fears tariffs will fuel inflation
(DBN)

California bill-paying problems near 9-year high
(DBN)

Dallas Fed Manufacturing Index Dips in February Chicago Fed National Activity Index Edges Down
(DBN)

Fed expected to respond strongly to inflation, job market conditions, research shows
(DBN)

Trump has America's CEOs running scared: 'The fear is real'
(DBN)

USTR proposes charging Chinese ships up to $1.5 million to enter US ports Mexico president hopeful of deal this week to avert U.S. tariffs Trump indicates Canada, Mexico tariffs will take effect next week Trump says US 'on time with the tariffs' on Canada and Mexico Trump vows retaliation for foreign taxes aimed at US tech giants GM tariff playbook includes international inventory cuts, CFO says Here's why Trump tariffs may raise your car insurance premiums Trump’s Oil Tariffs Could Cost Foreign Producers $10 Billion Annually
(DBN)

Trump wants Europe to buy more US farm goods. It can’t.
(DBN)

Trump takes a victory lap on Apple’s $500 billion U.S. investment, but one analyst calls it ‘completely unrealistic’
(DBN)

US lawmakers take aim at China's trade practices
(DBN)

For Many of America's Aging Workers, 'Retirement Is a Distant Dream'
(DBN)

Musk threatens federal employees still working from home with administrative leave
(DBN)

Apple braces for DEI showdown at annual shareholder meeting
(DBN)

An advanced degree was once viewed as the best path toward job security. It's now proving to be a liability.
(DBN)

JPMorgan executive calls for 'more hustle' after return to office mandate
(DBN)

Verizon to rival AT&T employees: Come work here if you don't like 5 days in office
(DBN)

JPMorgan CEO Jamie Dimon reaffirms DEI commitment despite industry shift Big Four Diverge on Diversity as Culture War Hits Accounting
(DBN)

Entry-level job openings are shrinking. That's not just a problem for Gen Z.
(DBN)

US House Republicans confront their first test of unity on Trump agenda Johnson searches for consensus on budget resolution as opposition grows ahead of key vote Government funding deal ‘very close’ as negotiations hinge on Trump power struggle
(DBN)

Here’s Why A Government Shutdown Appears Increasingly Likely—As Trump And Musk’s Cuts Anger Dems
(DBN)

Federal workers return to offices amid threat from Elon Musk
(DBN)

The Truth About Social Security And Dead People
(DBN)

US Debt Clock
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World Debt Clock
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Real Estate:

‘I feel trapped’: how home ownership has become a nightmare for many Americans
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Oil/Gas:

Trump Wants Canada’s Keystone XL Oil Pipeline Built ‘Now’
(DBN)

BP to abandon pledge to cut oil and gas output as chief fights for group’s survival
(DBN)

Oil Prices Climb as Trump Pledges to Refill Strategic Petroleum Reserve
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Education:

Ohio bathroom law targeting transgender students has brought internal strife to some campuses
(DBN)

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Politics:

Trump Starts Second Term as President with 43% Overall Job Approval Rating, 38% on Economy Trump holds 52 percent approval rating after first month in office Trump Earns One Of The Best Ratings He’s Ever Had In New Harvard CAPS/Harris Poll
(DBN)

Trump, schmoozing Saudis, plays two roles: President and mogul
(DBN)

4 conspiracy theories that have driven policy under Trump
(DBN)

'Completely untrue': Trump mercilessly shamed for single lie that stands out from many
(DBN)

It’s the Health Care, Stupid.
(DBN)

CIA scrambles after White House email compromises undercover officers' names: report
(DBN)

Far-right populists much more likely than the left to spread fake news – study
(DBN)

Trump Says Making 'Decisive Break' With Past US Foreign Policy
(DBN)

Donald Trump brutally humiliates Emmanuel Macron on visit to White House
(DBN)

Trump administration guts USAID humanitarian office, despite pledge to save its work 'Radical change': Inside Trump's State Department takeover of USAID
(DBN)

Trump Targets Comcast CEO Brian Roberts As MSNBC Plans New Lineup
(DBN)

Trump’s firing of high-ranking military officials, explained In Pentagon shakeup, some see bid for more secret actions, less oversight
(DBN)

Krugman: DOGE is the Theranos of Cost-Cutting Jamie Dimon says he hopes DOGE is successful because the US government is 'not very competent' How Musk Is Bringing His Twitter Takeover Playbook to DOGE Video of Trump kissing 'real king' Elon Musk’s feet played on US Govt screens in 'hack' Trump is selling 'official' DOGE membership in exchange for donations Man threatened to 'gut' Elon Musk, blow up his house and gun him down in X posts: Cops Federal agencies pushing back against Elon Musk job cuts could signal a new era for DOGE As DOGE cuts anger constituents, Republicans push for more info — and compassion
(DBN)

A new document undercuts Trump admin's denials about $400 million Tesla deal
(DBN)

Gov. DeSantis establishes Florida version of DOGE, will cut positions, audit universities
(DBN)

House Republicans unfazed by protests: ‘We’re moving forward with the cuts’
(DBN)

House Democrats are ramping up their attacks on the GOP agenda
(DBN)

Jane Fonda’s Fiery SAG Awards Speech Is an Instant Classic
(DBN)

Why some chaos-seekers just want to watch the world burn
(DBN)

‘Not what we signed up for’: inside Trump’s ‘shocking’ Kennedy Center takeover
(DBN)

CEO Devin Nunes Made $47 Million While Truth Social Parent Company Reported $401 Million In Losses In 2024
(DBN)

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Fraud:

Theranos founder Elizabeth Holmes' conviction upheld by US appeals court
(DBN)

Is Daniel Pettit in Dubai? New case against his mother suggests she helped him flee again
(DBN)

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Entertainment:

Technicolor Is on the Brink of Collapse Amid ‘Severe Financial Challenges' U.K. Unit Cuts Hundreds of Staff Technicolor To File For Administration In UK & Begins Receivership Process In France With Iconic Film Company On The Brink Technicolor Begins to Shut Down Operations ‘Due to Inability to Find New Investors'
(DBN)

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Climate:

Trump's Energy 'Emergency' Sets Up Carbon Capture as a Solution
(DBN)

Temps hit record highs across South America
(DBN)

Bank accounts for $20B climate program frozen amid Trump administration scrutiny
(DBN)

Recipient isn't giving in as Trump’s EPA tries to revoke climate grants
(DBN)

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Finance:

Banks Pull Debt Deals as Investors Push Back on Aggressive Terms
(DBN)

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Gig Economy:

DoorDash to pay N.Y. workers nearly $17 million for using tips as wages More than 60,000 DoorDash delivery workers will share the company's $16.75 million settlement, New York AG says
(DBN)

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Healthcare:

Delaware County judge signs order cementing consultants as Crozer receiver
(DBN)

Will the working-class GOP really cut health insurance? The House GOP's Medicaid holdouts are coming around Dems are preparing to blast Republicans on health care. It worked in 2018.
(DBN)

The states that would be the hardest hit by Medicaid cuts
(DBN)

Once kids start dying, we’ll see how people really feel about immunization mandates
(DBN)

Pennsylvania hostage-taking and shootout highlight rising violence against US hospital workers
(DBN)

D.C. psych hospital committed patients to boost profits, lawsuit says
(DBN)

Supreme Court schedules arguments in case where Trump administration is defending ACA
(DBN)

They were told to get extra breast cancer screenings. Then they were stuck with the bill.
(DBN)

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New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (41 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (2 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

There was a 55% increase in Chapter 12 bankruptcy filings last year, according to Farm Bureau
(DBN)

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Mass Torts:

Bankruptcy v. Multidistrict Litigation for Mass Torts
(DBN)

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Corporate Governance:

Delaware Aptly Balances Certainty and Scrutiny in Corporate Law
(DBN)

Companies With Dual-Class Equity Face Governance Challenges
(DBN)

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Evidence:

Proving Admissibility of AI Outputs Centers on Authenticity
(DBN)

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Plan Confirmation:

SBA Silence Delays Small Business Bankruptcies, Raises Costs
(DBN)

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Aviation:

This Airline Is Reimbursing Customers for Disappointing Vacations
(DBN)

Chaos as Delta passengers forced to evacuate plane on slides after ‘smoke filled cabin’ at Atlanta airport
(DBN)

Ex-NASA Leader Never Heard Musk Offer of Early Astronaut Return
(DBN)

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Tech:

Alibaba is going all in on developing AI that can reason like a human being
(DBN)

DeepSeek shows AI startups can now outpace the tech giants—who may have wasted billions
(DBN)

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Student Debt:

Student loan borrowers face abrupt 180 as GOP budget plans threaten to raise payments
(DBN)

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Celebs:

Cardi B Secures Million-Dollar Repayment Plan From YouTuber for Defamation Verdict
(DBN)

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Weight-Loss:

Hims & Hers tumbles after company misses on margin, says may stop selling some weight loss drugs
(DBN)

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Autos:

As Musk tears through Washington, some Tesla owners feel buyer’s remorse
(DBN)

Tesla sales almost halved in Europe last month and were surpassed by a Chinese rival Tesla Sales Fall 45% in Europe as Rivals’ EV Registrations Soar
(DBN)

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Motorcycles:

KTM bankruptcy: Bajaj Auto provides €50 million loan to Pierer Bajaj AG KTM Bankruptcy: Bajaj Auto Extends €50 Million Loan To Restart Operations US hedge fund takes on Indian billionaires in Austrian debt battle
(DBN)

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Trucking:

Trump’s Threat to EV Trucking Rules Undermines Big-Rig Bets
(DBN)

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Sovereigns:

Moody's Downgrades Senegal After Audit PM Dubs 'Catastrophic'
(DBN)

India’s another neighbor is on the verge of Bankruptcy, It’s Not Pakistan, Bangladesh, Myanmar or Sri Lanka, IMF issues warning
(DBN)

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UK:

Trump changed conversation on Ukraine ‘for the better’, says UK
(DBN)

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EU:

Wary of Trump, Germany's Merz warns it's 'five minutes to midnight for Europe'
(DBN)

Macron Tells Trump Europe Ready To 'Step Up' On Defense
(DBN)

France offers nuclear shield to Europe
(DBN)

Germany Discussing €200 Billion for Emergency Defense Fund
(DBN)

‘Enough is enough’: Europe’s leaders are piling pressure on the EU to release $200 billion of frozen Russian assets to fund Ukraine
(DBN)

Trump gives chilling WWIII warning to Europe over Russia-Ukraine peace plans as US shockingly sides with Putin at UN
(DBN)

5 signs that a U.S.-Europe split is widening
(DBN)

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Canada:

How Canada Hopes to Thwart Trump
(DBN)

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Denmark:

In an Age of Right-Wing Populism, Why Are Denmark’s Liberals Winning?
(DBN)

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Russia:

UN rejects US resolution that urges an end to the Ukraine war without noting Russian aggression US drives Ukraine war measure through UN with Russian backing These 17 countries voted with US against Ukraine UN resolution US splits with European allies over UN Ukraine resolution vote US Refuses to Blame Russia for Ukraine War in Extraordinary Break With Allies
(DBN)

Why American Businesses Aren’t Raring to Get Back Into Russia
(DBN)

Trump declines to describe Putin as a 'dictator' after calling Zelenskyy one
(DBN)

Trump says Putin has accepted concept of peacekeepers as part of Ukraine deal Kremlin disputes Trump's claim about Ukraine peacekeepers Putin says he and Trump have not discussed ending the Ukraine war in detail Trump says EU peacekeeping troops may go into Ukraine Macron Backs Trump Diplomacy But Seeks US Support On Any Troops Trump Says Ukraine War Could End 'Within Weeks' Erdogan Says Ukraine Must 'Definitely' Be Involved In Truce Talks
(DBN)

EU eyes €200B secret weapon as Trump dominates Ukraine peace talks
(DBN)

European Union offers its own 'win-win' minerals deal to Ukraine
(DBN)

Can Europe replace the US in Ukraine?
(DBN)

Top Ukrainian official says Kyiv will refuse any 'bad' peace deal
(DBN)

Trump announces 'major economic development transactions' with Russia in 'huge reversal'
(DBN)

Zelenskyy refuses to sign Trump’s rare earths deal — but official says pact is close
(DBN)

Trump’s views on Russia put Rubio’s long-held opposition to authoritarian leaders to the test Trump expresses hope Russia’s war in Ukraine is nearing an endgame as he meets with France’s Macron Macron gets platitudes but nothing concrete from Trump
(DBN)

Western leaders visit Kyiv and pledge military support against Russia on the war’s 3rd anniversary
(DBN)

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Mexico:

Why the Sinaloa Cartel May Never Be the Same Again
(DBN)

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China:

China's Shimao secures creditor backing for $11 billion offshore debt revamp
(DBN)

Trump’s abrupt change of US policy on Ukraine raises questions about Taiwan support
(DBN)

Chinese company withdraws notice setting deadline for single workers to get married
(DBN)

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India:

Downward shift in liquidations seen under IBC: IBBI chairperson Ravi Mittal
(DBN)

I&B board to consider changes in bankruptcy laws amid low recovery rates: How will this streamline court proceedings?
(DBN)

India considers bankruptcy law revamp as cases drag on
(DBN)

Karnataka heading for bankruptcy? BJP alleges state unable to pay transport, power bills due to poll freebies
(DBN)

Twist in Byju’s tale: resolution professional change pushed to March amid objections Byju’s Insolvency: A New Navigator Amid Creditors’ Clash
(DBN)

“Related Party” Creditor Under IBC: Making A Case For Purposive Interpretation
(DBN)

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Malaysia:

Malaysia Adopts Uncitral Model Law To Strengthen Insolvency Framework
(DBN)

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Germany:

The end of equitable subordination of shareholder loans in German insolvencies?
(DBN)

Troubled energy firm Uniper to repay €2.6bn to German government
(DBN)

German Economy’s Slump Driven by Steep Decline in Exports
(DBN)

Trump claims German election results vindicate his agenda, even as the country’s next leader breaks away
(DBN)

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