June 5, 2025

The Daily Bankruptcy News

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Law:

Midsize Firm Enjoying Time In The Spotlight After Denouncing Trump’s Attacks Against Law Firms ‘Brave’ Biglaw Firms Draw Rally To Support Their Fight For Justice Against The Trump Administration Skadden Foundation Chief Quits in Wake of Firm’s Trump Deal
(DBN)

Gross Revenue Is Not Created Equal Across Biglaw Firms
(DBN)

Lawyer who sued Major Lindsey for allegedly shunning her was ‘able to resolve the matter’
(DBN)

Lawyer who represents sex abuse victims is suspended for relationship with ‘vulnerable client’
(DBN)

Top restructuring lawyers Kyle Ortiz and Brian Shaughnessy join Herbert Smith Freehills Kramer in New York
(DBN)

Drop The ‘Partner’ Act: In-House Lawyers Belong In The C-Suite As Leaders, Not Sidekicks
(DBN)

Flurry of moves aim to remedy—and prevent future—California bar exam disasters
(DBN)

What Will The New Bar Exam Look Like? Say Hello To The NextGen Bar Exam Blueprint
(DBN)

AI Models on Law School Exams
(DBN)

Overwhelmed by AI? Lawyers turn to specialists to help power up their practices
(DBN)

The Rise of Digital Law Firms: How Technology is Transforming Legal Services
(DBN)

Influencer who sued rival for alleged copycat styling and ‘aesthetic’ has dropped her lawsuit
(DBN)

Trump unleashes MAGA rebellion on Federalist Society
(DBN)

Sweeping new ICE operation shows how Trump is reshaping federal law enforcement NYC says it will support Bronx student from Venezuela detained after attending immigration hearing US immigration officers ordered to arrest more people even without warrants Trump admin shrugs off Congressional concerns over ICE spending Nashville ICE raid reignites city’s turmoil with GOP leaders Sanctuary cities oppose effort to 'defund' them for refusing to help with deportation Lawyers urge SCOTUS to keep blocking 'third-country' deportations Trump’s Administration Has Asked Ally Serbia to Accept Deportees
(DBN)

Trump admin ordered to reveal deal with El Salvador after immigrant objects to jailing
(DBN)

Trump allies attempt DC Bar takeover
(DBN)

Justice Connection to Offer Pro Bono Support for DOJ Workers
(DBN)

Boulder attack was devastating — but unsurprising for some Jewish leaders
(DBN)

Woman Tells Jury That Sean Combs Held Her Over a 17th-Floor Balcony
(DBN)

Jeffrey Epstein Invested With Peter Thiel, and His Estate Is Reaping Millions
(DBN)

Harvey Weinstein's accusers 'all said no,' prosecutor tells jury as rape retrial ends
(DBN)

Jimmy Buffett’s $275 Million Estate Sparks Sprawling Margaritaville Legal Battle Jimmy Buffett’s Widow Sues to Remove Trustee of $275 Million Estate
(DBN)

Suspect in UnitedHealthcare CEO killing said he ‘had it coming,’ according to prosecutors
(DBN)

Three sisters who vanished while visiting homeless dad were found with bags over their heads, wrists zip-tied 'Not going to rest': Search continues for father accused of killing 3 young daughters
(DBN)

'Demon from Hell': Man's rampage to keep neighborhood 'safe' leaves 2 dead, cops say
(DBN)

Woman blamed 'anger issues' for her random gunshot that killed her neighbor: Police
(DBN)

Woman on trial for mushroom murder of in-laws says she was trying to fix a ‘bland’ lunch
(DBN)

'Mother of the year' provided a false alibi to cover up for her son's crime: Police
(DBN)

Man who was 'playing with' a gun with his friends fatally shot one of them: Police
(DBN)

Florida woman unleashes bear spray, racial slurs at mom, 2 kids playing with bubbles: Cops
(DBN)

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Judges:

Why Biden-era Supreme Court rulings could thwart Trump tariffs: 4 notes
(DBN)

Chemerinsky: SCOTUS takes on multiple challenges to executive orders from Trump administration
(DBN)

MAGA rage against Justice Barrett has been brewing
(DBN)

Labor unions demand 'urgent' hearing over Trump admin's 'noncompliance' with order
(DBN)

Judge blocks deportation of Colorado terror suspect's family
(DBN)

Trump's birthright citizenship order to face first US appeals court review US appellate judges skeptical of Trump birthright citizenship order
(DBN)

Trump Violated Rights of Deported Venezuelans, Judge Rules
(DBN)

Judge blocks Noem from 'shredding' TSA bargaining deal for 'likely' violating due process
(DBN)

Judge unseals docs in Abrego Garcia case as 'critical' to 'trustworthiness' in process
(DBN)

Mexico’s Next Chief Justice Wants to Scrap Traditional Black Robes
(DBN)

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Wall Street:

Stock futures are little changed after Dow snaps four-day winning run
(DBN)

Average 401(k) balances fell 3% since Trump's inauguration
(DBN)

Why TACO trade gets under Trump’s skin
(DBN)

Two of Wall Street’s Most Shorted Stocks Face Bankruptcy and Boardroom Turmoil
(DBN)

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Layoffs:

38 hospitals, health systems cutting jobs
(DBN)

Amazon files mass layoff notice for Reno fulfillment center closure
(DBN)

P&G Plans to Cut 15% of Office Jobs Over Next Two Years
(DBN)

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Healthcare:

Measles hit a Texas town, but misinformation got there first
(DBN)

Republicans seek ObamaCare rollback in Trump’s megabill, millions to lose coverage to pay for tax cuts
(DBN)

Top Dems claim 51K people will die annually from the 'big beautiful bill' and its Obamacare freeze
(DBN)

CBO: Nearly 11 million people will be uninsured if GOP megabill becomes law
(DBN)

Healthcare costs for average person increase 6.7% in 2025
(DBN)

Hospital CEO exits surge 150%, month to month
(DBN)

Texas hospital that discharged woman with doomed pregnancy violated the law, a federal inquiry finds
(DBN)

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Maritime:

Burning cargo ship carrying 3,000 vehicles abandoned off Alaska
(DBN)

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Autos:

Germans Are Buying More Electric Cars, but Not Teslas
(DBN)

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Personal Finance:

Lots of young people are clueless about money - older folks aren't much better
(DBN)

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Coal:

The War on Coal Is Renewed From an Unlikely Source: Trump’s Own Regulators
(DBN)

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Bicycles:

Back from the dead? Bankrupted e-bike company Sondors now pre-selling bikes again
(DBN)

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Rail:

Trump Administration Moves to Cut $4 Billion Funding for California’s High-Speed Rail
(DBN)

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Economy:

Fed's Beige Book: "Economic activity has declined slightly"
(DBN)

Kashkari Says Fed Well Positioned to Wait for Tariff Impact
(DBN)

US services sector contracts in May; businesses face higher prices Service side of economy shrinks for first time in almost a year - another trade war casualty ISM® Services Index decreased to 49.9% in May
(DBN)

US hiring slows, service industry falters amid trade war turbulence
(DBN)

Global Bond Auctions Show Weaker Trend as Fiscal Angst Grows
(DBN)

US Business Optimism Slumps in ‘Clear Pivot’ From Trump Election
(DBN)

Trump's 50% steel and aluminum tariffs take effect today. Here's what could get more expensive. Canada PM Slams 'Unjustified' US Metal Tariffs Mexico Vows Countermeasures If US Keeps Steel Tariffs NY Fed survey: Last month most firms passed on some of tariff surge Here's where all of Trump's tariffs stand as his 50% tax on steel and aluminum imports goes into effect US and Europe trade negotiators say progress but no breakthroughs on tariff talks in Paris US Trade Envoy Says EU Tariff Talks 'Advancing Quickly' US Commerce Chief Says To Set Aircraft Tariffs Standard Soon US Plans Wider China Tech Curbs Targeting Subsidiaries
(DBN)

Weakest ADP jobs report in two years points to hiring freeze tied to trade wars. Is the worst over? What is the main takeaway from ADP data? The U.S. job market has cooled US Private Sector Hiring Sharply Slows, Drawing Trump Ire ADP: Private Employment Increased 37,000 in May
(DBN)

Economists Raise Questions About Quality of U.S. Inflation Data
(DBN)

Trump airs frustrations with Xi and Powell over elusive economic goals
(DBN)

GOP bill for Trump's agenda would add $2.4 trillion to the debt over 10 years, budget office says Republicans Try to Discredit Experts Warning About the Cost of Tax Cuts Senate to Add Public Land Sales to Help Pay for Trump’s Tax Cuts Stephen Miller Desperately Makes the Case for Trump’s ‘Big Beautiful Bill’ After Musk Attack: ‘This Is the Most MAGA Bill Ever’ Top Democrat needles Republicans for not reading the ‘big, beautiful bill’ "I Did Not Know About This": Even Marjorie Taylor Greene Is Expressing Regret For Voting For The "Big, Beautiful" Bill Trump, GOP Senators Discussed Cutting SALT Break in Tax Bill Johnson, Thune push back on Musk’s megabill criticism After Muscling Their Bill Through the House, Some Republicans Have Regrets ‘A ton of tradeoffs’: Thune acts fast to cut deals and move Trump’s megabill 3 hurdles for Trump’s ‘big, beautiful bill’ Speaker Johnson: Trump ‘not delighted’ at Musk ‘180’ on megabill Elon Musk Keeps on Dissing Trump in Flurry of New Posts 'KILL the BILL': Elon Musk continues to blast Trump's bill in barrage of social media posts Elon Musk Urges Americans Take Action to ‘Kill’ Trump Tax Cut Bill Trump Is Losing Patience With Musk’s Outbursts Over Megabill
(DBN)

Trump calls for scrapping debt limit
(DBN)

Both Parties Need to Face Fiscal Reality
(DBN)

Tariffs will reduce deficits by $2.5 trillion over 10 years: CBO
(DBN)

America's debt is at a breaking point - and Trump's tax bill might just push it over the edge
(DBN)

Trump officials delayed farm trade report over deficit forecast
(DBN)

Conservative Economic Populists Are Taking a Victory Lap
(DBN)

Earn less than $200K? Your family can afford to live comfortably in only 7 states, report finds
(DBN)

Social Security employees warn massive delays coming as bosses make 4 changes – and millions of checks may be stopped
(DBN)

A Risky Plan Made in America
(DBN)

Think you’re ‘middle class’ in America? This income level says you’re probably wrong
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Q1 Update: Delinquencies, Foreclosures and REO
(DBN)

MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey
(DBN)

Grant Cardone Bids $230M To Buy Boca Raton Apartments Out Of Bankruptcy
(DBN)

Bankruptcies, Lawsuits And An AG Probe: A Prolific Brooklyn Developer's Downward Spiral
(DBN)

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Municipalities:

10 best, worst cities to raise a family
(DBN)

Boston Tax Hit From Office Market Slump Swells to $1.7 Billion
(DBN)

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Politics:

Latest Trump approval ratings are in: Here's how he scores according to US polls this month
(DBN)

White House directs DOT to ignore GAO ruling on EV funding pause
(DBN)

Trump Stymied in ‘Art of the Deal’ Approach to World’s Strongmen
(DBN)

Wall Street Infuriates The President With ‘TACO Trade’ Lingo, He Forgets Key Lesson Of ‘Back To The Future’
(DBN)

Trump Faces Shocking Threat to His Presidency From ‘Brutus’ Musk
(DBN)

Trump announces travel ban and restrictions on 19 countries set to go into effect Monday
(DBN)

Democrats set out to study young men. Here are their findings.
(DBN)

‘The Swamp Isn’t Being Drained’: Right-Winger Denounces ‘Cheap Date’ Trump for Backing RINOs
(DBN)

Anti-Israel attacks keep antisemitism a top issue in the NYC mayoral race
(DBN)

Karine Jean-Pierre Announces She’s Leaving the Democratic Party in New Book Promising Look Into ‘Broken White House’
(DBN)

House Dem to McMahon: Why is Education Department ‘taking its lead from Jim Crow’?
(DBN)

House GOP summons five more Biden aides in probe of possible mental health cover-up
(DBN)

A Lingering Musk: Will Ex-aide Elon Get Up Trump's Nose?
(DBN)

The Smithsonian faces an existential crisis. The world is watching.
(DBN)

Trump orders investigation into Biden’s actions as president, ratcheting up targeting of predecessor
(DBN)

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Solar:

Sunnova Subsidiary Files for Bankruptcy as Solar Struggles Deepen
(DBN)

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Crypto:

WazirX Faces Setback In Restructuring Bid, Vows Appeal Singapore Court Declines Payout Plan, Creditors to Remain in Limbo
(DBN)

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Fraud:

Bernie Madoff customers to recoup $498 million, payout tops $15 billion
(DBN)

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Education:

Trump’s Old High School Is in Trouble (Again). Can a Chinese Businessman Fix It?
(DBN)

Trump Officials Target Columbia Accreditation Over Protests
(DBN)

Trump banning foreigners from entering U.S. to study at Harvard
(DBN)

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Hedge Funds:

Fund Founder George Weiss Files Bankruptcy Over Jefferies Debt
(DBN)

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Metals:

Aluminum Executives Balk at Trump’s Latest 50% Tariff Move
(DBN)

Three of US’s Top Steel Suppliers Are Seeking Breaks on Tariffs
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

May Commercial Chapter 11 Filings Increase 62% Over April
(DBN)

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Barton Doctrine:

Barton Strikes Again: Nominal “Individual” Claims Don’t Excuse Non-Compliance
(DBN)

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Plan Confirmation:

Apollo’s Sanchez Energy Win Is Rebuke of Bankruptcy Court Fix
(DBN)

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Personal Genomics:

23andMe Judge Questions Limits for New Auction for Bankrupt Firm 23andMe seeks new bids after $305 million offer from its co-founder 23andMe’s Former CEO Pushes Purchase Price Nearly $50 Million Higher 23andMe's Bankruptcy Sale Sparks Bidding War
(DBN)

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Aviation:

Silver Airways draws no new bidders, paving way for ‘stalking horse’ to buy the South Florida airline
(DBN)

Tariffs Could Cause Spirit Airlines To Cancel Its Airbus Orders
(DBN)

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Privacy:

23andMe Sparks Lawmaker Race to Protect Genetic Data in Bankruptcy
(DBN)

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Steel:

America's steel industry is getting a massive boost from Trump's tariffs push
(DBN)

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Autos:

Car buyers drove sales to a 4-year high to beat tariffs. Now sales are running out of gas.
(DBN)

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Tech:

Behind bankruptcy plea of London start-up: It hired 700 Indian engineers to pose as AI tools Inside the collapse of Microsoft-backed UK tech unicorn Builder.ai
(DBN)

The Missing Engineers: The world’s need for power is outstripping the workforce that can build it
(DBN)

META turns to nuke power for AI
(DBN)

The fallout of Wolfspeed’s potential bankruptcy
(DBN)

Tax Bill’s Bid to Ban New AI Rules Faces Bipartisan Blowback
(DBN)

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Retailing:

Costco, Walmart Seek Strategies to Keep Lid on Tariff Hikes
(DBN)

Big Lots to reopen nearly 80 more stores
(DBN)

Why Rite-Aid's Bankruptcy Reflects a Deeper Crisis in US Drugstores
(DBN)

Dollar Tree results show discount retail is the canary in the coal mine Dollar Tree stock slides as earnings outlook takes a tariffs hit
(DBN)

Higher-income consumers have been flooding dollar stores for bargains
(DBN)

Grocery chain swoops in to take over Rite Aid prescriptions in 78 locations after bankruptcy filing
(DBN)

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Food/Beverage:

Hooters Abruptly Closes Over 30 Locations After Bankruptcy
(DBN)

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Trucking:

Heavy Truck Sales Down 8% YoY in May
(DBN)

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Religion:

How Catholicism Got Cool
(DBN)

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Climate:

It’s Not Just Poor Rains Causing Drought. The Atmosphere Is ‘Thirstier.’
(DBN)

Trump’s Tax Bill Would Dampen, But Not Quash, the Clean Energy Buildout
(DBN)

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UK:

Half of London boroughs warn they face bankruptcy over insufficient schools funding
(DBN)

Thames Water creditors warn of "short and closing window" to agree rescue deal Thames Water creditors warn that time is running out Thames Water faces weeks of uncertainty as watchdog reviews £4bn creditor plan
(DBN)

Watchdog faces more scrutiny over handling of SSB Law collapse
(DBN)

New Somerset special school in £1.4m rescue deal after Government 'failed'
(DBN)

Criminals steal 47mn from HMRC after accessing 100,000 taxpayers' accounts
(DBN)

Starmer Wants US Deal Done in Two Weeks to Save British Steel
(DBN)

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Russia:

Almost 1 million Russian troops killed or injured in Ukraine war, study says
(DBN)

Trump says Putin told him ‘very strongly’ he will ‘have to respond’ to Ukraine drone strikes in hour-long call Trump speaks with Putin, says ‘not a conversation that will lead to immediate Peace’ with Ukraine Kremlin Describes Putin-Trump Call As 'Productive'
(DBN)

Russia Says Ukraine Rejected 2-3 Day Partial Ceasefire Putin Says Ukraine Wants Ceasefire To Rearm And Mobilize Zelensky Says Russia Only Holding Talks To Delay US Sanctions
(DBN)

Russia, Ukraine Ready To Exchange 500 POWs This Weekend: Zelensky
(DBN)

Putin Discussed Ukraine Conflict With Pope Leo: Kremlin
(DBN)

Ukraine says the drones that hit Russian aircraft used AI to find and strike their targets when they lost signal The Russian aircraft Ukraine said it hit were missile carriers and other key planes that aren't easily replaced
(DBN)

Putin's demands to Ukraine underscore a position the West has always suspected: No compromise
(DBN)

Condoleezza Rice: Putin getting more ‘desperate’
(DBN)

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MENA:

Iran sparks WW3 fears as Supreme Leader rejects nuclear deal with 'rude & arrogant' Trump Trump Says Iran 'Slowwalking' On Nuclear Deal
(DBN)

US- and Israeli-backed group pauses food delivery in Gaza after deadly shootings
(DBN)

Irish University To Cut Links With Israel Over Gaza War
(DBN)

UK Govt Calls For Independent Probe Into Deaths At Gaza Aid Site
(DBN)

Israel’s Government Wobbles as Netanyahu Allies Threaten Exit
(DBN)

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India:

Group insolvency framework: When one is not for all
(DBN)

Anil Ambani's Remarkable Journey, From Being The Sixth Richest Man, Bankruptcy To Startling Comeback
(DBN)

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Japan:

Annual births fall to another record low in Japan as its population emergency deepens
(DBN)

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Australia:

Toys‘R’Us ANZ Limited Appoints Voluntary Administrators Amid Insolvency Concerns
(DBN)

Supporters of John Pesutto question Victorian Liberals’ priorities over reluctance to bail out former leader
(DBN)

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