January 30, 2025

The Daily Bankruptcy News

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3-Column Formating

 

Law:

‘Very strong performance’ reported for law firms in 2024, with revenue increasing 12.5%
(DBN)

Law Firm Revenue Jumps 13% in 2024, Fueling a Profit Surge
(DBN)

Biglaw 2024: Still Billing, Still Thriving, Still Unapologetically Expensive
(DBN)

Law Firms Have 185 Billion Reasons to Chase Secondaries Market
(DBN)

Lawyer drops case against Morgan & Morgan claiming 'deceptive' ads
(DBN)

Steptoe Surpasses Half Billion in Revenue With New Houston Office
(DBN)

Partners Chained To The Office More Than Associates At This Biglaw Firm
(DBN)

Judge Answers Charlie Adelson’s Request For Resentencing
(DBN)

Dechert sues former lawyer for alleged salary overpayment
(DBN)

Never Take A Case Billed Out On An Hourly Basis Without A Retainer Big Enough To Easily Cover A Month’s Fees
(DBN)

KPMG’s bid to deliver legal services delayed as top Arizona court seeks more information Allowing KPMG to Embrace Nonlawyer Ownership Is Long Overdue
(DBN)

Arizona’s Alternative Business Structure Program Improved Access To Justice For Tort Victims And Possibly Large Companies
(DBN)

Attempted murder suspect escapes through North Carolina jail's ventilation system with cellmates' help, officials say
(DBN)

Customs worker admits taking bribes after daughter touted luxurious lifestyle on social media
(DBN)

Judge pauses Trump funding freeze order until Feb. 3
(DBN)

Entire Jan 6 Capitol Riot Database Disappears From Trump DOJ Website
(DBN)

Trump Hires Sullivan & Cromwell to Fight Hush Money Case Sullivan & Cromwell Joins Trump Defense As Age Of Obsequiousness Begins!
(DBN)

Trump appeals hush money criminal conviction Trump hires new lawyers
(DBN)

Trump DOJ Dismisses Stolen Docs Case It Used To Bury Special Counsel Report
(DBN)

Pardoned Jan. 6 rioter gets 10 years for deadly drunk driving crash
(DBN)

Jan. 6 rioter must stay away from son who turned him in as he's 'terrified' of retaliation
(DBN)

House Democrat Urges Mike Johnson to Increase Capitol Security Following Oath Keeper Visit
(DBN)

Donald Trump fails to pay $360,000 legal bill over failed 'Steele dossier' lawsuit, UK court told
(DBN)

Drug pusher granted clemency by Biden arrested days after being released from prison
(DBN)

Meta agrees to settle lawsuit with Donald Trump Meta to Pay $25 Million to Settle 2021 Trump Lawsuit
(DBN)

Justice Department drops case against Trump’s former co-defendants in classified documents investigation
(DBN)

False impeachment claim linked to Trump's Jan. 6 pardons
(DBN)

Kash Patel, Trump's controversial pick for FBI director, set to face Senate grilling Republicans Warn Against Kash Patel FBI Confirmation: 'Grievous Mistake' People on Kash Patel’s so-called ‘enemies list’ taking drastic steps for protection before his potential FBI takeover
(DBN)

Trump administration ends deportation protection for Venezuelan immigrants Tren de Aragua, a gang started in a Venezuelan prison, becomes early target of Trump administration immigration raids An inside look at a migrant smuggling operation at the southern border aided by Americans Money may be pulled from TSA and the Coast Guard to help fund deportations Did Border Numbers Plunge 93% in Trump's First Week? What We Know California to Alert Students, Parents if ICE Agents Turn Up Under New Bill ICE Detains Legal Migrant Who Has Been Working in US for 30 Years Trump signs Laken Riley Act, setting up next phase of immigration crackdown Trump says U.S. will send "worst criminal illegal aliens" to Guantanamo Bay Guantanamo could be used to hold up to 30,000 migrants
(DBN)

Iowa immigration law making illegal reentry a misdemeanor blocked by 8th Circuit
(DBN)

Missouri AG backs up Trump's birthright citizenship order, argues 14th Amendment has been 'perverted'
(DBN)

Civil rights attorney Ben Crump speaks to Trump's DOJ directives
(DBN)

EEOC commissioner fired by Trump hires Kavanaugh accuser's lawyers
(DBN)

‘Using the devil's own tools against them': Abortion opponents turn to environmental laws
(DBN)

New Trump Administration Attorney Identifies As ‘Raging Misogynist’
(DBN)

Prince Harry's US visa drugs lawsuit is set for first court hearing since Donald Trump's inauguration - after US president said he 'wouldn't protect' duke on his return to the White House
(DBN)

Musk’s mother urges him to sue CNN over gesture segment
(DBN)

Trump vs. the courts: Two early fights set stage for many more to come
(DBN)

Harvey Weinstein's retrial on rape charges in New York is set for April 15 Harvey Weinstein Tells Judge He May Die If He's Forced to Stay in Jail
(DBN)

Ex-Senator Bob Menendez Pleads for Mercy in Gold Bar Case 'Trump is right': Former Sen. Menendez speaks after 11-year sentence handed down
(DBN)

Justice Dept. discusses dropping corruption charges against NYC Mayor Eric Adams, source says
(DBN)

'F--- off': Driver going 10 mph over limit is jailed after ranting at cop, bodycam shows
(DBN)

Octogenarian allegedly kills wife after she repeatedly got up in the middle of the night
(DBN)

Man surprised to learn he can still be arrested despite having ankle monitor and curfew
(DBN)

Police: Ex-Con Arrested For Bologna Battery
(DBN)

Inmate slowly died from perforated ulcer while staff ignored his cries: Lawsuit
(DBN)

With leaked footage from the inside, Sundance doc shows horrifying conditions in Alabama prisons
(DBN)

Ohio is Testing Radical Strategy To End Death Penalty
(DBN)

‘You’re going home,’ police tell Ahmaud Arbery’s killer in video shown to jury
(DBN)

Details finally emerge over 50 years after U.S. woman accused of 3 murders vanished from Mexican prison
(DBN)

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Judges:

In the Battle of AI and Copyrights, a Judge Seeks a Tech Lesson
(DBN)

Idaho House calls on SCOTUS to reverse same-sex marriage ruling
(DBN)

Chief Justice John Roberts Already Came Out Against Federal Spending Freeze
(DBN)

Texas Firm Sued for J.C. Penney Bankruptcy Fees Over Undisclosed Romance
(DBN)

Chemerinsky: SCOTUS failed to address whether Chinese access to TikTok data is real national security threat
(DBN)

Judge cites Trump's press secretary's X post to block funding freeze on federal aid Biden-appointed judge uses Justice Barrett's words to block Trump's freeze on federal aid
(DBN)

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Wall Street:

S&P 500 futures rise after Meta Platforms, Tesla report earnings
(DBN)

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Layoffs:

Kohl’s cuts 10% of corporate workforce
(DBN)

Cargill to Cut 1,100 Workers
(DBN)

Trump administration offering "deferred resignation" to government workers unwilling to return to office DOGE: Government employees who take buyout can take vacation or ‘watch movies and chill’ Trump to federal employees on ‘fork in the road’: Quit now and collect eight months’ pay for nothing Fork in the Road? Federal Employees React to Donald Trump's Worker Buyout Federal Workers Urged To Reject Trump Buyout Federal workforce reeling over Trump’s ‘buyout’ offer Mike Johnson: 'Fantastic' if workers take Trump buyout because they should be fired anyway 5 questions about Trump’s federal employee buyout offers
(DBN)

Trump tells federal workers that he'll give them a buyout if they leave their jobs except he doesn't have any funds to do that and it's illegal to offer a buyout that size Trump buyout plan faces legal, logistical roadblocks
(DBN)

The Biggest Job Cut In U.S. History Hit 60,000 Workers. Trump Could Push Out Far More.
(DBN)

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Education:

Trump expected to sign executive order prioritizing federal funding for school choice programs
(DBN)

Republican-controlled Texas House and Senate to debate prayer in schools
(DBN)

Map Reveals States with the Worst Reading and Math Scores
(DBN)

Trump officials to probe Denver school for installing all-gender bathroom
(DBN)

Trump Administration to Cancel Student Visas of Pro-Palestinian Protesters
(DBN)

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Food/Beverage:

This Mexican Chain Just Made a Huge Comeback After Bankruptcy
(DBN)

Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter
(DBN)

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Climate:

Conditions that fueled L.A. fires were 35% more likely because of climate change, scientists find
(DBN)

Trump’s Transport Secretary Orders Fuel-Economy Rule Rewrite
(DBN)

Atmospheric River Set to Strike US: Heavy Rain and Snow Forecast
(DBN)

Global Banks Make Little Headway in Addressing Climate Change
(DBN)

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Economy:

FOMC Statement: No Change to Fed Funds Rate Fed holds rates steady as inflationary threats loom Fed holds interest rates, setting potential collision course with Trump Powell Says Fed Doesn’t Need to Be in a Hurry to Lower Rates Key Takeaways From Fed Decision to Hold Rates Steady Fed holds rates steady, takes less confident view on inflation
(DBN)

The economy's strong. Why are more Americans barely making credit card payments?
(DBN)

'Negative equity' is on the rise — and even car dealers are concerned
(DBN)

Mass Deportations Could Cause Wage Increases in Five States
(DBN)

Why a clash between President Trump and Fed Chair Jerome Powell looks inevitable
(DBN)

Trump: No income Taxes, Just Tariffs
(DBN)

Egg prices are likely to shoot up even more in 2025. Here's what to know. Egg costs predicted to rise in 2025, despite Vance saying 'prices are going to come down'
(DBN)

Even More Affordable Childcare Costs Surged 50%, Survey Finds
(DBN)

Trump’s tariff threats are working: Audi ponders a U.S. manufacturing site—and Porsche might join Jaguar Land Rover Profit Slumps as US Tariff Threat Looms
(DBN)

Trump Tariff Plans Would Hit Most Important Trade Partners
(DBN)

Lutnick Says Trump’s Tariffs Will Restore US Economy and Respect
(DBN)

After talking tough during campaign, Trump appears to ease up on China at start of presidency How do you explain Trump's abrupt pivot on China? Elon Musk.
(DBN)

Mexico's Sheinbaum Doesn’t Expect Trump’s 25% Tariffs on Feb. 1
(DBN)

Ontario leader calls for snap election to fight Trump’s threatened tariffs
(DBN)

Bosses are done caring how you feel
(DBN)

Target’s DEI cuts have Black entrepreneurs saying ‘clear the shelves’
(DBN)

The baby gap: why governments can’t pay their way to higher birth rates
(DBN)

EY report doubles down on diversity initiatives as DEI comes under scrutiny in Trump's first weeks in power
(DBN)

Republicans crafting Trump’s big bill hit a familiar roadblock: How to pay for it
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Inflation Adjusted House Prices 1.1% Below 2022 Peak; Price-to-rent index is 7.8% below 2022 peak
(DBN)

MBA: Mortgage Applications Decreased in Weekly Survey
(DBN)

Mortgage demand drops further, even as interest rates settle
(DBN)

Florida Building Luxury $15M Condos on Surfside Collapse Site
(DBN)

Delicious new twist in saga of Maine millionaire neighbors at war over trees poisoned for sea view
(DBN)

For many who lost homes in Los Angeles fires, insurance won't cover entire cost of rebuilding
(DBN)

If you own a home, the LA wildfires are trying to tell you something
(DBN)

Residents in Palisades Fire zone share fire-hardened features of their homes, still standing
(DBN)

Chubb reports L.A. County fire losses will hit $1.5 billion
(DBN)

Los Angeles reservoirs filled before blazes, except for one needing repairs
(DBN)

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Municipalities:

Cle Elum is moving to declare bankruptcy. Here's why ‘I don’t have optimism:’ Cle Elum one step closer to declaring bankruptcy
(DBN)

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Oil/Gas:

I’ve Never Been Tied to a Chair: Oil Workers Mystified by New TV Show - WSJ
(DBN)

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Awards:

The Lawyer Hot 100 2025
(DBN)

____________

Healthcare:

Physician practice bankruptcies surge to 6-year high
(DBN)

Prospect Medical bankruptcy may threaten the future of two RI hospitals
(DBN)

Prison Health Company Wellpath to Alter Bankruptcy Plan Proposal
(DBN)

The tuberculosis outbreak in Kansas is alarming. It’s not the biggest in US history though, CDC says
(DBN)

Map Shows States With Highest Medicare Costs for 2025
(DBN)

____________

Politics:

Trump 2.0 Is the Real Deal
(DBN)

Project 2025 is already massively reshaping America
(DBN)

Is Trump already underwater? Polling takes drastic turn in only a week ‘Remarkably poor judgment': Wall Street Journal takes a critical eye to start of Trump’s 2nd term
(DBN)

Democrats leave ’emergency’ meeting vowing ‘street fight’ in response to Trump actions
(DBN)

Trump's billionaire brigade poised to upend Washington: ‘We are in a post-conflicts-of-interest world’
(DBN)

White House blames "outage" for locking out Medicaid, Head Start, health centers from funding site
(DBN)

Trump administration rescinds order attempting to freeze federal aid spending White House says Trump funding freeze remains in effect despite rescinding OMB memo Federal judge signals he will block Trump administration from freezing funding despite OMB rescission Judge Nukes Funding Freeze After Press Secretary Admitted New Legal Defense Was Bogus Why this Nixon-inspired law says Trump can't freeze federal funding White House rescinded funding memo after GOP senators ‘hit the ceiling’ Can Trump administration hold back federal grants? Federal statute, Constitution could be impediments Trump’s chaotic loan freeze ordeal is bad for business Trump’s grant gambit threatens to wreck the goldilocks economy he inherited Donald Trump’s Funding Freeze Is a Holy S--- Moment for Democrats
(DBN)

'This woman is embarrassing': Trump press secretary mocked over latest claim
(DBN)

Get Used to the Whiplash: Chaotic 24 Hours Confirms Trump Is Improvising as He Goes
(DBN)

Trump went for shock and awe. Now he’s mopping up.
(DBN)

White House regroups as funding freeze chaos recalls first term’s travel ban
(DBN)

Fired USDA Inspector General Defies Trump Dismissal Order, Escorted from Her Office
(DBN)

Ocasio-Cortez embraces role as attack dog against Trump
(DBN)

Trump approval rating slips after flurry of executive actions: Survey
(DBN)

Is Trump pushing his presidential powers beyond what the Constitution allows?
(DBN)

Rubio foreign aid freeze leads to USAID staff suspensions and contractor terminations
(DBN)

Who Will Stand Up to Trump’s Broligarchs?
(DBN)

With Panama Canal-U.S. tensions rising, ‘all options on the table,’ warns Trump top marine official
(DBN)

Threat to deploy European troops to Greenland & Danes announce $2b military boost…as EU says ‘No negotiating’ with Trump Denmark Orders Ships for Greenland After Trump Demands
(DBN)

Democrats Joke About Moving to Canada Post-Trump. These People Actually Did It - WSJ
(DBN)

Fact-checking RFK Jr.'s claims at hearing Fetterman: RFK Jr.’s nomination in trouble after rocky hearing As RFK Jr. faces U.S. Senate, questions linger about a measles outbreak in Samoa, half a world away Nicole Shanahan says she'll 'personally fund' primary challengers against senators who don't vote for RFK Jr. RFK Jr. grilled on his views on vaccines and abortion in first confirmation hearing RFK Jr. Tells Senators in Tense Exchanges He Backs Vaccines RFK Jr. Confronted by Bernie Sanders About Selling Anti-Vax Onesies How Americans Feel About RFK Jr., Vaccines Amid Confirmation Hearing Elizabeth Warren warns RFK Jr. could 'bankrupt' vaccine makers RFK Jr. grilled over ‘conflicting’ vaccine, abortion and COVID claims in contentious confirmation hearing
(DBN)

As a Rising Political Star, Gabbard Paid to Mask Her Sect’s Ties to Alleged Scheme - WSJ Trump Allies Make Push for Lawmakers to Give Gabbard Top Spy Job Tulsi Gabbard's nomination at risk of being blocked as she heads to confirmation hearing. Here's what to know The senators who could stop Tulsi Gabbard
(DBN)

Musk’s Election Interference Is Rattling German Political Class Elon Musk Accused of 'Pulling Trump Down' With Negative Poll Rating Americans See Problems in Government, but Have Doubts About Musk The Elon-ification of the federal government Priest Throws Nazi-Like Salute at Pro-Life Rally in DC in Trollish Nod to Elon Musk Controversy
(DBN)

Transgender service members sue Trump over his military ban
(DBN)

Powerless, Democrats Debate Just How Deep in the Wilderness They Are
(DBN)

Democrats flip Iowa state Senate seat
(DBN)

DeSantis signals he will veto immigration bill passed by Florida GOP lawmakers
(DBN)

Mexico Takes Fight Over Gulf's Name to Google
(DBN)

Trump orders agencies to scrub 'gender ideology' from contracts, websites
(DBN)

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Comic Books:

Titan Comics Joins Diamond Bankruptcy Committee of Unsecured Creditors
(DBN)

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Golf:

Otterkill Country Club property owner files for Chapter 11
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (17 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (23 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

New Purdue bankruptcy deal cuts out Sacklers’ legal immunity
(DBN)

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Contempt:

Cash-strapped Byju's executive, biz partner found in contempt of US court
(DBN)

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Intercreditor:

In The Know: Un-Serta-inty
(DBN)

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Professional Fees:

BK NV: 2024 Professional Fees Report
(DBN)

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Bankruptcy Remoteness:

Delaware LLCs, Independent Managers, and Bankruptcy Remote Structures: Lessons from 301 W North Avenue
(DBN)

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Aviation:

‘Multiple fatalities’ as Wichita flight collides with military helicopter in Washington D.C. Desperate search for survivors after American Airlines jet carrying 60 collides with military chopper over DC Commercial plane split in two after colliding with Black Hawk chopper mid-air: report Champion figure skaters confirmed as passengers aboard crashed flight Husband received text message from his wife that she was landing minutes before her flight crashed — as he waited at DC airport Collision recalls 1982 Air Florida crash into the 14th Street Bridge 3 soldiers aboard the helicopter: Defense official DC plane crash marks first major commercial crash in US in more than 15 years 'Nothing short of a nightmare': Jet, helicopter collide in deadly crash near Reagan National
(DBN)

Frontier makes a second bid for Spirit with budget airlines struggling Spirit Airlines rejects Frontier's 2nd attempt to buy the struggling carrier Spirit Airlines plays hardball with Frontier’s second merger bid despite bankruptcy Spirit Airlines snubs Frontier’s new merger offer, opts to exit bankruptcy solo
(DBN)

Drones over NJ: Why didn’t the FAA admit they authorized the flights? Here’s what we know UFO whistleblower counters White House claims New Jersey drones were FAA approved
(DBN)

Elon Musk says SpaceX will rescue two ‘stranded’ astronauts. Here’s why that is confusing
(DBN)

Elon Musk visits Boeing about delayed new Air Force One jets
(DBN)

____________

Tech:

ASML shares jump 10% as surge in orders defies fears of DeepSeek hitting AI chip demand
(DBN)

AI-assisted works can get copyright with enough human creativity, says US copyright office
(DBN)

DeepSeek has rattled the AI industry. Here’s a quick look at other Chinese AI models China’s DeepSeek AI is full of misinformation and can be tricked into generating bomb instructions, researchers warn Nvidia, Chip Stocks Rebound as DeepSeek Panic Dies Down DeepSeek Is Reshaping China’s AI Landscape Why AI Safety Researchers Are Worried About DeepSeek Palmer Luckey Accuses DeepSeek Of Lying About AI Model Costs: 'The $5M Number Is Bogus'
(DBN)

‘Headed for technofascism’: the rightwing roots of Silicon Valley
(DBN)

AI Commercials Are Going to Take Over the Super Bowl This Year
(DBN)

AI energy demand predictions have echoes of the great horse manure crisis
(DBN)

Truth Social owner Trump Media expands into finance, may invest in bitcoin
(DBN)

TikTok suppressed content critical of Trump, exclusive report alleges
(DBN)

____________

Autos:

Tesla investors want Elon Musk to answer questions about ‘salute,’ role in Trump White House
(DBN)

Elon Musk finally admits that Tesla will have to replace its HW3 self-driving computers
(DBN)

Tesla’s Profit Fell Sharply Last Year
(DBN)

Honda recalling almost 300K vehicles over engine concerns
(DBN)

____________

Agribusiness:

Bird flu 'widespread' in Massachusetts: Officials
(DBN)

Florida's citrus outlook remains bleak
(DBN)

____________

Personal Finance:

I work from home while my husband goes into the office. It's caused a lot of unexpected issues in our relationship.
(DBN)

____________

Private Credit:

The Evolving New Normal: 2024 Private Credit Restructuring Year in Review
(DBN)

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Utilities:

Edison wants customers to pay for wildfires linked to its equipment
(DBN)

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Sports:

Super Bowl ads beckon up to $8 million apiece for Fox
(DBN)

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Retailing:

The Container Store exits bankruptcy The Container Store's Next Chapter
(DBN)

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Auto Racing:

3 NASCAR teams forced to shut operations amid bankruptcy
(DBN)

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Sovereigns:

Ecuador’s Dollar Bonds Surge as Country Heads for Election Runoff
(DBN)

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UK:

Somerset Council warns of ‘effective bankruptcy’ without urgent government support Somerset Council could go bankrupt without sharp council tax rise
(DBN)

'Crippling mistakes and mismanagement' pushed Birmingham City Council into bankruptcy - damning report
(DBN)

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Canada:

‘A tale of two economies’: Experts react to latest BoC rate cut
(DBN)

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Spain:

Tourists and Migrants: The Winning Combination Helping This European Economy Keep Pace With America - WSJ
(DBN)

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MENA:

3 Israeli hostages, 5 Thai nationals freed as part of cease-fire after 16 months in captivity
(DBN)

Egypt’s Sisi Rebuffs Trump Call to Displace Gaza Palestinians
(DBN)

Israel Arrests 12 in East Jerusalem Over Hamas Ceasefire Celebrations
(DBN)

Palestinians’ return to northern Gaza complicates Netanyahu’s war aims
(DBN)

What we know about Trump's claim that the U.S. planned to spend $50 million on condoms for Gaza
(DBN)

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Russia:

Zelenskyy accuses Putin of being 'afraid' of peace talks
(DBN)

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India:

India Court Allows Byju’s US Lenders to Join Creditor Panel
(DBN)

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China:

Country Garden seeks creditor deal to restructure USD 16.4 billion debt by February
(DBN)

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Brazil:

Restructuring & Insolvency newsletter: December 2024 and January 2025 updates
(DBN)

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India:

IBBI streamlines rules on information utilities to expedite bankruptcy resolution
(DBN)

Companies in India not using IBC enough to resolve insolvency: IBBI chief
(DBN)

Insolvency And Bankruptcy Code Could Be A Double-Edged Sword For Corporate Restructuring, Recovery. Here’s How
(DBN)

Budget expectations on corporate insolvency
(DBN)

____________

Germany:

German lawmakers can’t agree whether to seek ban on far-right AfD
(DBN)

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