May 21, 2025

The Daily Bankruptcy News

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Law:

New Survey Results Are In: The Legal Profession Is Overwhelmingly Opposed To The Biglaw Deals With Trump Biglaw Firms May See Prestige Ranking Scores Take A Hit Thanks To Deals With Trump
(DBN)

Lawyers for a journalist accused of hacking Fox News blame AI for error-filled legal brief
(DBN)

Prominent South Carolina lawyer arrested for allegedly yelling in public while clad only in underwear
(DBN)

Trump DOJ Lawyer Floats ‘Criminal Charges’ for Jill Biden
(DBN)

FBI leaders under pressure from MAGA voters to act on their 'weaponization' claims
(DBN)

Kristi Noem Thinks Habeas Corpus Is A Deportation Spell Noem defends potentially suspending habeas corpus, defines it as ‘right the president has to … remove people’ DHS Secretary Kristi Noem Confidently Bombs Question About Habeas Corpus in Shocking Hearing Exchange Internal DHS memo shows ICE Barbie Kristi Noem endorsed immigrant reality TV show despite telling senators she 'knew nothing about it'
(DBN)

Some 4,500 migrants told to pay fines ranging up to $1.8 million Washington state man detained by immigration agents at Seattle airport after family vacation Kid Rock Distances Himself From His Own Bar After Reported Nashville Ice Raids Trump Canceled Deportation Protections. Here’s Where Legal Challenges Stand. Surprise Supreme Court Ruling Throws 350,000 Migrants Into Uncertainty
(DBN)

Jan. 6 defendant who wanted 'full compensation' with Trump pardon arrested again: Cops
(DBN)

Senators question Paramount's Redstone over '60 Minutes' settlement attempts with Trump Senators raise ‘improper conduct’ in CBS parent company’s efforts to settle Trump lawsuit
(DBN)

Joe Biden Wanted to Testify for Son Hunter in Gun Trial
(DBN)

Diddy Trial Going His Way So Far, Legal Analysts Say: 'Acquittal Likely' Trump bombshell drops in witness' disgusting 'freak off' testimony Sean 'Diddy' Combs' personal assistant tells jury about guns, drugs and lie detector tests Diddy’s ex-assistant spills details on near-gunfight with Suge Knight Cassie’s Mother Testifies at Sean Combs’s Trial About Bruises and a Payment
(DBN)

Feds charge New Jersey congressmember with assault Alina Habba targeted Democrats when she became New Jersey’s top prosecutor. Now she’s following through. Democrat LaMonica McIver Charged Over Incident at Newark Immigration Facility: What Punishments Could She Face? Case Against LaMonica McIver 'Will Be Rejected in Court'—Attorney Democrat Warns 'Red Line' Was Crossed After Alina Habba Charges Colleague ‘I'm looking forward to my day in court’: McIver claps back at Trump's charges Trump on McIver charges: ‘The days of woke are over’
(DBN)

'Absolutely no credible information': Chauvin pardon from Trump not happening, chief says
(DBN)

New Orleans Inmate Escape Update: Jail Employee Arrested While Six at Large Maintenance worker says inmate threatened to shank him if he didn't assist in New Orleans jail break
(DBN)

Gavin Newsom could write the ending to the Menendez brothers' saga
(DBN)

Five years after George Floyd's death, calls to reform qualified immunity mostly fall silent
(DBN)

Man admits gunning down industrial engineer wife and claiming it was a 'double suicide'
(DBN)

Jennifer Lopez sued in copyright case -- for posting photos of herself
(DBN)

Bakery in New Hampshire wins in free speech case over a pastry shop painting
(DBN)

Teen stabbed 81-year-old roommate 113 times because elderly man was 'already dying': Cops
(DBN)

'Boom, boom, boom': 72-year-old woman shoots noisy son over video game racket, police say
(DBN)

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Judges:

Judge who previously fought for abortion rights wants to join Wisconsin Supreme Court
(DBN)

Posner wins dismissal of suit for unpaid salary by pro se plaintiff who led his center for unrepresented litigants
(DBN)

DOJ saying it cannot return wrongly deported man 'entirely ignores' SCOTUS: 4th Circuit
(DBN)

Supreme Court orders Maine House to restore vote of lawmaker punished for Facebook post on transgender athlete
(DBN)

Fox News Host Scorches Amy Coney Barrett: ‘She Has It All Wrong’
(DBN)

Five Supreme Court Justices Sit Out Case in Rare Move
(DBN)

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Wall Street:

Dow futures drop 400 points as bond rates move higher
(DBN)

Moody's downgrade ripples through bond market, causes worries for stocks
(DBN)

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Layoffs:

UPS to shut down Stockton hub as part of ongoing companywide closures and layoffs
(DBN)

TikTok Shop US Employees Told to Work From Home as Layoffs Loom
(DBN)

Santa Ana USD votes to lay off hundreds of teachers and staff
(DBN)

ITV To Cut 220 Jobs
(DBN)

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Education:

Upper West Side Private School Faces Closure After Bankruptcy Judge Rejects Emergency Loan
(DBN)

Columbia University president booed with 'Free Mahmoud' chants
(DBN)

Trump administration grants two legal victories to Grand Canyon University
(DBN)

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Food/Beverage:

Fiorella Becomes Latest Pizza Chain to File for Bankruptcy Amid Industry Struggles
(DBN)

Nebraska To Ban Soda, Energy Drinks From SNAP
(DBN)

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Trucking:

Georgia carrier disputes top creditors’ claims in bankruptcy filing
(DBN)

Yellow Nets $14M in Terminal Sales, Sets Up Saia to Further Expand US Footprint
(DBN)

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Agribusiness:

Phantom Cows Cost Investors $350 Million in Massive Scam
(DBN)

New salmonella outbreak tied to same Florida grower with tainted cucumbers last year
(DBN)

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Climate:

Climate change suit alleging energy companies created public nuisance may proceed, top state court says
(DBN)

Two key trends suggest hurricane season may have busy start
(DBN)

Heavy storms, tornadoes and 'tennis ball-sized hail' to hit the southern Plains
(DBN)

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Junk Bonds:

Junk Bonds Don't Pay Enough For The Risk, Marty Fridson Says
(DBN)

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Pharma:

US health authorities to set targets for lowering drug prices
(DBN)

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Celebs:

Floyd Mayweather Jr. fights back on bankruptcy speculation, says he’s building wealth for his children
(DBN)

Antonio Brown Dodges Sanctions Over Bankruptcy Property Records
(DBN)

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Fraud:

Lawsuits: Daryl Heller’s ATM business was a ‘Ponzi scheme’; former partners seek to recoup losses
(DBN)

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Personal Genomics:

What will happen to your genetic data after 23andMe sale?
(DBN)

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Non-Profits:

Nonprofit CANDLE, Mired In Debt, Seeks Relief In Chapter 11 Bankruptcy
(DBN)

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Forest Products:

Lumber Prices Up 13% YoY
(DBN)

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Tax:

Trump Threatens to Tax Payments That Power Latin American Allies
(DBN)

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Motorcycles:

KTM Secures Funding To Pay Off Creditors
(DBN)

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Comic Books:

US Courts Withdraw Chapter 7 Bankruptcy Threat For Diamond Comics
(DBN)

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Economy:

US Economic Outlook Darkens as Major Forecast Records Steep Drop
(DBN)

Surging federal debt to raise borrowing costs, erode investment: Peterson
(DBN)

Meet the small-business owner suing Trump over tariffs Majority of US companies say they have to raise prices due to Trump tariffs Why Trump Is Having His ‘Marie Antoinette Moment’ on Tariffs Wes Anderson Responds to Trump's Movie Tariff Plans—'Doesn't Ship That Way' Guinness Owners Issue Warning Over Trump's Tariffs America’s Top Banker Raises Alarm About Trump’s Latest Tariff Plan MAGA ‘Shark Tank’ Star Has Real Bad News for Trump’s Tariff Order Home Depot Won’t Raise Prices Amid Tariffs—As These Companies Warn Of Tariff Impacts Home Depot to keep prices steady but says tariffs may make some items unavailable How Businesses Are Navigating Trump’s Tariff Limbo Walmart should stop blaming tariffs, says Trump Walmart responds to Trump's directive to 'eat the tariffs' The day the music died: Trump's tariffs are hitting musical instruments G-7 Countries Discuss Tariffs on Low-Value Chinese Products Under attack by Trump, South Africa's Ramaphosa responds with trade deal offer
(DBN)

Fed's Musalem: policy uncertainty has 'meaningful' impact on economic outlook Fed's Musalem: current policy remains appropriate if trade tensions are durably de-escalated Fed’s Musalem Says Tariffs Will Likely Weigh on Growth, Jobs
(DBN)

US economy may be on the brink of price-hike wave, Fed's Bostic says
(DBN)

Invoice rejection spike suggests tactic’s use as tariff buffer, study says
(DBN)

How much did Mideast countries promise to invest in the US? Trump keeps jacking up the number
(DBN)

Kid Rock and Dolly Parton's Sister Clash Over US Birth Rates
(DBN)

Recession indicators are out of control. When will this madness end?
(DBN)

‘Don't f--- around with Medicaid’: Trump moves to steamroll megabill opposition Hawley: House GOP must listen to Trump on Medicaid Trump pitch fails to move GOP holdouts on agenda megabill Massie unmoved on Trump’s ‘big, beautiful bill’ after president’s personal pitch White House forecasts "big, beautiful bill" would drive stunning economic growth Trump appears to be losing patience with blue-state Republicans on SALT Johnson offers $40,000 SALT deduction cap with income limits Trump sours on lifting SALT cap, calling it a gift to Democratic governors Trump pushes House GOP holdouts to get behind the massive bill for his agenda Trump fails to convince ‘SALT Caucus’ to back tax bill Congress Pulls Tax Cut All-Nighter With SALT Fight Unresolved Mike Johnson's headaches persist despite Trump's assist Congressional Republicans vs. Reality President Donald Trump’s “big, beautiful” tax-and-spending bill could come with a big, ugly cost, economists warn. Behold the New Tax Plan: More Complicated, Less Fair, Totally Unaffordable Trump tax-cut bill faces rare overnight stress test with US House Republicans
(DBN)

Trump Import-Tax Hike Counters Income-Tax Relief, Economists Say
(DBN)

Energy expenditures as a percentage of PCE
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

US Housing Market Wobbles During Major Homebuying Season
(DBN)

US Housing Market Warned of Mortgage Rate Hikes, Foreclosures
(DBN)

Mortgage demand drops after interest rates jump to the highest level since February
(DBN)

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

California Home Sales "Retreat" in April; New Listings "Surge"
(DBN)

250 Best Places to Live in the U.S. in 2025-2026
(DBN)

Florida's Real Estate Strength Is Turning Into A Weakness
(DBN)

Foreclosure lawsuit filed against owners of Celebration Pointe over townhome community loan
(DBN)

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Municipalities:

Austin’s Reign as a Tech Hub Might Be Coming to an End
(DBN)

Barbara Lee takes the reins of her troubled hometown
(DBN)

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Oil/Gas:

With output hikes, OPEC+ again targets US shale oil
(DBN)

Big Oil Shrugs at $60 Crude—for Now
(DBN)

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Politics:

Elon Musk says he plans to do ‘a lot less’ political spending going forward The Reputation Scores of Musk’s Tesla and SpaceX Are Nosediving
(DBN)

Trump Approval Rating Tracker: Numbers Improve As Middle East Trip Gets High Marks
(DBN)

‘I’ll Shove It Up Their A--’: Trump Rails Against Political Opponents at Posh Dinner
(DBN)

Nancy Mace Shares Nude Photo of Herself During House Hearing
(DBN)

Laura Loomer swipes at Trump from the heart of MAGA
(DBN)

Republican Wants FEMA Help After Voting to Cut Funding Mississippi tornado survivors await assistance amid FEMA overhauls
(DBN)

How MAGA Are Republicans? Comparisons Now to Record High
(DBN)

Biden White House Doctor Kevin O'Connor Faces Subpoena Calls ‘Highly likely’ Biden had prostate cancer diagnosis in the White House Trump Demands Biden Doctor Probe Over Prostate Cancer ‘Cover Up’ Prostate Experts See Familiar Scenario in Biden’s Cancer Diagnosis Trump claims ‘treasonous thugs’ took advantage of Biden’s mental decline to open borders: ‘Wanted to destroy our country’
(DBN)

AOC Seen as ‘Face’ of Democratic Party — and It’s Not Even Close: New Poll
(DBN)

Trump Administration Initiated Boeing 747 Deal With Qatar How Congress could crush Trump's Qatari plane gift Qatari PM denies Trump plane gift is bribery Qatar’s ‘Gift’ to Trump of a $400M Jet Wasn’t Their Idea at All
(DBN)

JD Vance Ripped After Biden Cancer Remarks: 'Soulless Ghoul'
(DBN)

Don Jr.’s Gold Rush Donald Trump Jr on running for president: "that calling is there"
(DBN)

Too toxic for Trump’s first term, some officials are back in the fold
(DBN)

MAGA Kennedy Center Boss Demands Probe Into Its ‘Criminal Debt’
(DBN)

Taylor Swift Makes Feminist Trump Diss With ‘Handmaid’s Tale’ Song Debut
(DBN)

Cuomo Blasts Trump for Election Interference After Probe Report Justice Department is investigating NYC mayoral candidate Andrew Cuomo over testimony to Congress
(DBN)

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Batteries:

Lithium battery recycler with plants in Arizona and Alabama files for bankruptcy
(DBN)

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Tech:

Wolfspeed: Equity Likely To Be Wiped Out In Bankruptcy Wolfspeed Prepares to File for Bankruptcy Within Weeks Wolfspeed Down 58% on WSJ Article That It's Preparing for Bankruptcy
(DBN)

Microsoft-backed startup Builder.ai to file for insolvency “Still in shock”, say Builder.ai staff, following collapse into insolvency
(DBN)

AI is coming for the Big Four too
(DBN)

House leaders urged to remove AI provision in ‘big, beautiful bill’ to prevent ‘unfettered abuse’
(DBN)

OnlyFans users face prison under harsh new Swedish law
(DBN)

Google offers ‘AI mode’ in ‘total reimagining of search’
(DBN)

Newspaper Prints AI-Generated Summer Reading List -- With Books That Don't Exist
(DBN)

Waymo says it reached 10 million robotaxi trips, doubling in five months
(DBN)

Elon Musk says AI could run into power capacity issues by middle of next year
(DBN)

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Crypto:

Strive eyes 75,000 distressed Bitcoin claims from bankrupt Mt. Gox estate for its reserves
(DBN)

Genesis LOC Files New Lawsuits Against DCG and Barry Silbert to Recover Billions
(DBN)


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Retailing:

Popular bridal chain to open new ‘personalized’ store concept as it claws its way out of bankruptcy
(DBN)

Lowe’s sticks by full-year forecast as sales from home professionals boost business
(DBN)

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Entertainment:

Los Angeles Mayor Seeks to Lure Filming Back by Cutting Red Tape
(DBN)

How Google’s new AI movie tool could threaten Netflix
(DBN)

U.S. film studios welcome Trump's foreign film tariff proposal | Watch
(DBN)

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Bicycles:

Podbike Shuts Down: Norwegian E-Velomobile Startup Files For Bankruptcy
(DBN)

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New Bankruptcy Opinions
(7 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (39 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Judicial Liens:

SDNY Bankruptcy Court Explains Differences Between Preferential Judicial Liens v. Statutory Liens
(DBN)

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Bankruptcy Research:

Bankruptcy’s Redistributive Policies: Net Value or a “Zero-Sum Game”?
(DBN)

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D&O:

Changes in Delaware Corporate Law: A D&O Liability and Insurance Perspective
(DBN)

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Mass Torts:

Attorney General Kathy Jennings objects to Kidde-Fenwal bankruptcy deal
(DBN)

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Bankruptcy Alternatives:

The Winners In A Successful ABC: Debtor’s Secured Creditors
(DBN)

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Aviation:

Brazilian airline Gol says U.S. court approves restructuring plan
(DBN)

Brazil government not considering specific aid for airline Azul, minister says
(DBN)

I was alone on shift when Newark air traffic control went dark
(DBN)

US set to announce Newark flight cuts to reduce congestion, officials say
(DBN)

Plane evacuated after bomb threat made against Hawaiian Airlines flight preparing to take off from San Diego Airport
(DBN)

So you finally got TSA PreCheck. Here's how to avoid being the most annoying person in line and get through faster.
(DBN)

Air Belgium bankruptcy resulted in $9mn unpaid pax refunds
(DBN)

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Autos:

May Vehicle Forecast: Sales "Cooling Off" to 15.9 million SAAR
(DBN)

Elon Musk Says He’ll Remain Tesla CEO For Next Five Years—As Shares Jump 1%
(DBN)

Musk says Tesla is on track to launch a robotaxi trial in Austin, Texas by the end of June
(DBN)

GM Ends US Vehicle Exports to China Amid Trade Tensions
(DBN)

Amazon’s Zoox Expands Robotaxi Trials to Rival Turf in Atlanta
(DBN)

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Theme Parks:

Dolphins trapped in bankrupt marine park 'going blind with eyes jammed shut'
(DBN)

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Consumer Finance:

Buy now, pay never? Some Klarna users struggle to repay loans as U.S. consumer debt rises
(DBN)

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Healthcare:

FDA to limit covid shot approval to elderly, those with medical conditions
(DBN)

RFK Jr. grilled on health department funding cuts
(DBN)

This is a fight over Obamacare, again
(DBN)

Brokers accused of steering seniors into a Medicare Advantage 'trap'
(DBN)

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Nuclear:

First US utility seeks permit for a small nuclear reactor
(DBN)

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Media:

CBS News in distress amid Trump’s pressure campaign: ‘There’s a lot of fear’
(DBN)

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UK:

Insolvency levels hit highest level in eight months in Awful April Monthly company insolvencies rise to highest level since last July
(DBN)

R3 Responds To April 2025 Insolvency Statistics
(DBN)

UK inflation leaps to higher-than-expected 3.5%, ONS says
(DBN)

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EU:

Europe's 'MEGA' Stutter: Far-Right Bid for Power Falters Despite Gains
(DBN)

Trump Seriously Freaked Out European Allies on Call About Putin
(DBN)

European Officials Weigh Response to US Efforts to Thwart Local DEI Programs
(DBN)

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Ireland:

Ardagh talks with creditor group break down over improving cans unit
(DBN)

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Hong Kong:

Bilta’s Implications For Hong Kong’s Corporate Insolvency Regime.
(DBN)

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MENA:

Iran Ramps Up Defenses as Risks of U.S. Attack Grow
(DBN)

U.K. suspends free trade talks with Israel and announces sanctions over West Bank settlers
(DBN)

UN Warns 14,000 Babies in Gaza Could Die Within Days
(DBN)

'Our children are dying slowly' says father searching for food in Gaza
(DBN)

No aid has been distributed yet in Gaza, UN says
(DBN)

Pope Leo appeals for Israel to allow humanitarian aid in Gaza
(DBN)

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Russia:

Zelensky Offers Trump Free Trade Agreement
(DBN)

There is no Ukraine ceasefire. Ever.
(DBN)

US waiting for Russian peace proposal, Rubio says
(DBN)

Trump Draws New Pope Into a Tricky Role on Russia’s War
(DBN)

Russia Classifies Population Data as Birth Rates Plunge to 200-Year Low
(DBN)

New EU and UK sanctions target Russia's shadow fleet of tankers illicitly transporting oil Ukraine pitches tougher Russia sanctions plan to EU as US wavers
(DBN)

'Flamethrower' robots are now officially a part of Ukraine's war
(DBN)

Russia opens criminal case against journalist critical of Ukraine war
(DBN)

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India:

Corporate insolvency resolution cases under the IBC continue to decline
(DBN)

IBC transforms India’s financial landscape
(DBN)

Creditors realisation stands at over 32.8% till March 2025 under bankruptcy framework: IBBI Banks take 67% haircut in 1,194 insolvency cases yielding resolution
(DBN)

60% resolution plans under IBC approved in last three years: IBBI data
(DBN)

Government plans IBC tweaks to ease CCI approval norms for bidders
(DBN)

Aakash accuses EY of conflict of interest amid Byju's insolvency crisis
(DBN)

Lenders willing to offer lower rates to distressed firms since IBC took effect, says insolvency board
(DBN)

MCA may amend IBC to scrap prior CCI approval for insolvency bids
(DBN)

Govt working on amendments to insolvency law
(DBN)

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China:

China Ran Record Budget Deficit With Spending Blitz Amid Tariffs
(DBN)

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Germany:

German economic advisory panel forecasts stagnation this year
(DBN)

Germany arrests minors in strike against far-right 'terrorist' group
(DBN)

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Indonesia:

AGO Arrests Bankrupt Textile Giant Sritex Boss in Graft Case Corruption Charges Hit Bankrupt Indonesian Textile Powerhouse
(DBN)

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