May 6, 2025

The Daily Bankruptcy News

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3-Column Formating

 

Law:

'60 Minutes' shows it's not scared off by Trump's lawsuit and threats Skadden’s Naiveté On Display In 60 Minutes Piece ’60 Minutes’ Continues Hard-Hitting Segments On Trump With Look At His Attacks On Law Firms, Guest Compares POTUS Actions To A Mob Boss ‘60 Minutes’ Thumbs Its Nose at Trump With Scathing Segment '60 Minutes' segment paints Trump as threat to the country's legal system amid lawsuit 60 Minutes pokes Trump in new feature despite 11-figure lawsuit ’60 Minutes’ Airs Scathing Segment on ‘First Felon in the Oval Office’ Despite Pressure to Avoid Sensitive Stories About Trump
(DBN)

'Let's kill the lawyers I don't like' is Shakespearean approach of Trump order against Perkins Coie, judge says Why one associate at a major law firm quit over its deal with Trump A law associate making $300,000 a year at Skadden Arps quit over the firm’s deal with Donald Trump A judge used Trump’s own words to expose his real agenda
(DBN)

Trump Is Hiding Behind His Lawyers
(DBN)

Trade War Made Law Firms Rich… Likely Doomed Them Anyway
(DBN)

Gen AI Reduces Grunt Work for Some In-House Legal Teams
(DBN)

Top 10 Biglaw Firm Mandates Four Office Days For Attorneys Each Week
(DBN)

Just How Big Is Biglaw?
(DBN)

NYU Law Wants Students To Sign Away Their Right To Protest
(DBN)

Continued suspension of diversity standard suggested by ABA Legal Ed committee
(DBN)

Pence: Constitution ‘binds us across time and generations’ Pence says institutions held on Jan. 6 because GOP, Democratic leaders "did their duty"Pence says January 6 attack’s failure ‘became a triumph of freedom’ as he receives JFK Profile in Courage Award Pence rebuffs Trump on tariffs, Russia and January 6 pardons in CNN interview
(DBN)

California’s Bar Exam Fiasco Enters Next Stage Of Stupid
(DBN)

California Bar Sues Exam Vendor ProctorU Over February Breakdown
(DBN)

How This Conservative Lawyer Became One of Trump’s Toughest Foes in Court
(DBN)

GOP may be closer than ever to enacting a massive rule-busting bill
(DBN)

Whistleblower Lawyer Sues Trump to Reclaim Security Clearance
(DBN)

Over Two-Thirds of Lawyers Leave DOJ Civil Rights Unit in Exodus
(DBN)

AI law firm offering £2 legal letters wins ‘landmark’ approval
(DBN)

Divorce lawyer accused of involvement in fatal stabbing of client because he wanted trial delay
(DBN)

Diddy Jury to Decide if He Led Criminal Enterprise Jury questioning underway in Sean 'Diddy' Combs' sex trafficking trial Mike Myers, Michael B. Jordan first celebs named in Diddy trial
(DBN)

Trump orders reopening of "enlarged" Alcatraz prison Donald Trump's Alcatraz Prison Idea Faces Scrutiny Over Costs Trump alone on an island with plan to reopen infamous Alcatraz Trump’s call to reopen Alcatraz faces ‘daunting’ challenges Trump’s Call to Reopen Alcatraz Prison Meets California Scorn ‘Moviemaker’ Trump Is Getting Policy Ideas From TV... Again
(DBN)

Airport Detentions Have Travelers ‘Freaked Out’ Some US cities are canceling cultural events over fears of ICE raids and deportations US offers $1,000 stipend to encourage migrants to self-deport People who fled authoritarian regimes say Trump's tactics remind them of home He was protected from deportation by a legal settlement. Trump deported him anyway. US intel memo undercuts Trump claims about Venezuelan gang Lives cut short in ICE custody: Seven migrants die in Trump’s first 100 days
(DBN)

DOJ Lawyers Aren’t the President’s—No Matter What a Memo Says
(DBN)

Trump’s Justice Department Is Squandering Its Biggest Asset
(DBN)

'Plainly illegal': Trump administration is intentionally 'sabotaging' HHS, lawsuit says
(DBN)

3 killed, 5 injured after mass shooting at restaurant in Glendale, Arizona
(DBN)

'Pocket all profits': Husband sentenced for killing wife as he plied girlfriend with gifts
(DBN)

Man allegedly hurls live grenade 'with safety pin partially removed' as he flees cops
(DBN)

Teen allegedly helped kill football teammate days before championship, played in his honor
(DBN)

Man thought he could get away with raping wife, but a judge and jury said otherwise
(DBN)

Enraged car owner sentenced for killing innocent bystander after tracking down stolen SUV
(DBN)

Nursing student close to graduation murdered by roommate because of spat over cats: Cops
(DBN)

______________

Judges:

Trump and GOP House escalate war against the judiciary
(DBN)

State AG digs in against judge who blocked immigration arrests, says they will continue
(DBN)

Is This the End of the Separation of Church and State?
(DBN)

Justice Department lawyers face skeptical judges upset by ‘shoddy work’
(DBN)

Supreme Court 'Intimidated' and 'Scared' by Trump's Attacks—Ex-Prosecutor
(DBN)

The Increasingly Overloaded Emergency Docket
(DBN)

Apple will appeal contempt ruling in Epic Games case over App Store
(DBN)

Major cases involving Trump before the US Supreme Court
(DBN)

Trump’s first judicial pick of second term has clerked ‘for a full third’ of Supreme Court’s justices
(DBN)

Trump Returns to Red State Appeals Lawyers to Fill Judgeships
(DBN)

Conservatives Are Doing A Great Job When It Comes To Turning Young Lawyers Into Federal Judges
(DBN)

Federal judge says results of North Carolina court race with Democrat ahead must be certified
(DBN)

______________

Wall Street:

Stock futures fall after S&P 500 snaps 9-day winning streak, investors look to Fed meeting
(DBN)

Berkshire Hathaway shares fall 6% after shocking Buffett exit and an earnings decline
(DBN)

______________

Layoffs:

Rite Aid heading for bankruptcy again, plans to cut jobs: report
(DBN)

$4B Meat Distributor Harvest Sherwood to Close, Lay off 1500
(DBN)

Hegseth Says ‘Lean and Mean’ Military Requires Cutting Officers
(DBN)

IRS Lost 31% of Tax Auditors in DOGE Downsizing, Watchdog Finds
(DBN)

Volvo Cars' battery company Novo Energy to cut half of workforce
(DBN)

______________

Entertainment:

Hollywood studio stocks fall after Trump proposes foreign film tariff Can Trump really put tariffs on films produced abroad? The law says no. Trump’s Movie Tariff Would’ve Hit These Recent Huge U.S. Blockbusters: From ‘Avatar’ To ‘Wicked’ Lights, camera, inaction? Trump’s film tariff confuses Hollywood Trump’s Planned Hollywood Tariff Rattles Studios and Streamers Netflix, Disney Shares Slip on Tariff Plans for Foreign Films Hollywood rages at madness of 'catastrophic' new Trump tariffs on movies made overseas Trump tariff order on movies leaves film industry flummoxed UK Reaffirms Support for Film Industry After Trump Tariff Threat Trump Vows to Meet Hollywood on Tariff Plan That Shook Industry
(DBN)

White House Says “No Final Decisions” Have Been Made on Movie Tariffs, Still “Exploring All Options”
(DBN)

Gavin Newsom Seeks $7.5 Billion Hollywood Aid, Trump Accord Gavin Newsom says he wants to work with Trump to 'Make America Film Again'
(DBN)

Jon Voight says he's sent Trump a 'comprehensive plan' to 'make Hollywood great again' Trump’s ‘Special Ambassador’ Jon Voight Reveals Plan to ‘Rescue Hollywood’
(DBN)

US media stocks fall as Trump threatens 100% tariff on foreign-made films
(DBN)

Just for Laughs Is Back: New Owners Unveil Post-Bankruptcy Strategy
(DBN)

____________

Education:

Macron hits Trump’s funding cuts to universities, woos US scientists Europe pledges half a billion euros to lure scientists as Trump battles universities
(DBN)

Trump administration bars Harvard from new federal research funding
(DBN)

Ackman Slams Harvard for Failures, Calls to Remove Pritzker
(DBN)

Harvard Begins to Confront Its Anti-Semitism Problem
(DBN)

Congress Is Preparing to Hit Universities Where It Hurts
(DBN)

The next potential weapon in Trump's battle with Harvard: raising the tax levied on its $53 billion endowment
(DBN)

Police Arrest Pro-Palestinian Protesters After They Occupy University Of Washington Building
(DBN)

____________

Tech:

The first chapter of AI-driven bankruptcy
(DBN)

A.I. Is Getting More Powerful, but Its Hallucinations Are Getting Worse
(DBN)

AI Leaders Find Even Talking About Privacy Concerns a Struggle
(DBN)

OpenAI Walks Back For-Profit Plan, Nonprofit to Keep Control
(DBN)

Why Palantir's stock is falling even though its earnings were 'on fire'
(DBN)

____________

Theme Parks:

Animals potentially removed from Gulf World Marine Park
(DBN)

____________

Economy:

US services sector expands with hints of rising price pressures
(DBN)

Trump plays the economic blame game
(DBN)

Trump says he’ll call CEOs when he disagrees with their business decisions
(DBN)

Growth at US Service Providers Picks Up After Slumping in March ISM® Services Index Increased to 51.6% in April
(DBN)

Recession Watch Metrics
(DBN)

NY Fed’s inflation gauge outpaces headline PCE, hints at stubborn price pressures
(DBN)

No turning back: America's forever trade wars White House urges patience on tariffs as anxiety over prices escalates Trump promised his tariffs would create jobs. They’re already destroying them. From prosperity to austerity: Trump’s tone shifts ahead of tariff impacts The clock is ticking down to zero, and Trump needs a trade deal — badly ‘Feed the gorilla’: How corporate America fought Trump’s tariffs threat ‘Exorbitant burden’: How Trump’s trade war has shaken the dollar Bessent says Trump's tariff, tax-cut, deregulation agendas will drive investment to US Northeastern governors look to sidestep Trump administration in Canadian trade war Lutnick skeptical of cutting deal with Canada’s ‘socialist regime’ How Much Damage Have Trump’s Tariffs Already Done? Pence warns of ‘price shock,’ consequences of Trump tariffs Cummins withdraws 2025 financial forecast on tariff woes Chinese exporters ‘wash’ products in third countries to avoid Donald Trump’s tariffs Bristol Myers Promises $40 Billion US Investment Over Five Years Apollo’s Rowan Says Trade Chaos Made US ‘Merely Exceptional’ Why tariffs are actually going to boost U.S. companies - and the stock market
(DBN)

What happens if Trump's tariffs hit faster than tax relief? GOP could consider bailouts.
(DBN)

Fmr. Atlanta Fed president warns an 'inventory cliff' could bankrupt small businesses
(DBN)

Social Security reduces benefit clawback to 50% for some; experts warn of ‘devastating’ effects
(DBN)

House Republicans hunt for deals on Medicaid, taxes
(DBN)

Low income now means 6 figures in 4 wealthy Bay Area counties
(DBN)

US seeks to weaken global development finance efforts, shows UN document
(DBN)

U.S. News Ranks the Best States for 2025
(DBN)

US Space-Based Missile Defense Could Cost $542 Billion, CBO Says
(DBN)

Demonized by Trump, DEI Professionals Go ‘Discreet’ to Find Jobs
(DBN)

Trump Expects You to Work on His New National Holidays
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

______________

Real Estate:

Housing May 4th Weekly Update: Inventory up 2.1% Week-over-week, Up 32.9% Year-over-year
(DBN)

Buying a home now requires $50K more income than renting
(DBN)

Foreclosures are on the rise, and 60,000 veterans are suddenly much closer to losing their homes
(DBN)

America's Property Tax Headache
(DBN)

ICE Mortgage Monitor: Home Prices Continue to Cool
(DBN)

San Francisco warns 2,000 people could be evicted if Trump yanks housing funds
(DBN)

Office space provider IWG touts record US business despite tariff threat
(DBN)

Commercial real estate acquisition volume rises 17% in Q1
(DBN)

Frank Lloyd Wright's Price Tower Sold to McFarlin Building After Bankruptcy Proceedings
(DBN)

____________

Oil/Gas:

U.S. Electricity From Fossils Fuels Dips Below 50% for the First Time Ever
(DBN)

Oil climbs nearly 3% as price drop triggers buying; oversupply worries weigh
(DBN)

____________

Politics:

Trump set to raise millions from crypto and memecoin this month
(DBN)

A Trump Family Push for Profit on Three Continents Breaks Historical Norms
(DBN)

Trump’s business conflicts ‘worst since there were slave owners in the White House’
(DBN)

Trump Posts Wild ‘Villains, Rapists, Monsters’ Rant From Stephen Miller
(DBN)

The Missing Branch
(DBN)

Trump’s No. 1 campaign pledge hinges on GOP delivering megabill
(DBN)

Republicans grow antsy after Trump comments on tariffs, recession
(DBN)

Hegseth orders Pentagon to slash top ranks of military Hegseth wants deep cuts to active-duty 4-star generals, admirals
(DBN)

The Signal Clone the Trump Admin Uses Was Hacked Pete Hegseth’s Signal Addiction Goes Way Deeper Than We Knew Mike Waltz’s Cabinet Messaging App Goes Dark After Apparent Hack
(DBN)

Trump Throws a Tantrum After Getting Roasted by Karl Rove Trump rips Karl Rove after ‘Mr. Scrooge’ jab: ‘Total loser’
(DBN)

Bill O’Reilly Attacks ‘Dopey’ Trump: ‘No Excuse’
(DBN)

Donald Trump Statue Unveiled in South Dakota: 'Controversial'
(DBN)

Marjorie Taylor Greene Rails Against Direction of Trump Administration on Steve Bannon’s War Room: ‘You Can’t Manipulate the Base’ Greene says base furious with Congress, not Trump
(DBN)

Trump’s goodwill and approval ratings are in free fall
(DBN)

Lawler town hall devolves into chaos
(DBN)

'Let her stay!' - Audience protests as woman forcibly removed from rowdy Republican town hall
(DBN)

Ocasio-Cortez keeps Democrats in suspense over next move
(DBN)

Moore preaches a new brand of patriotism amid speculation of 2028 run
(DBN)

Democrats cautiously open door to another Harris run in 2028
(DBN)

Ocasio-Cortez passes on top Oversight Committee position bid
(DBN)

Conservative School Boards Face Election Defeats in Trump Heartland
(DBN)

Maryland Gov. Wes Moore, a rising Democratic star, leans into a sense of national pride as the party searches for new vision
(DBN)

Shock Video: Reporter Warns Digital Tyranny Has Arrived Will democracy survive technology? America’s Slide into Authoritarianism, as seen from TED 2025
(DBN)

This small town backed Trump's cost-cutting pledge. Now it's a target
(DBN)

Blockbuster Exposé Ramps Up Stolen Valor Accusations Against Congressman: ‘He Didn’t Save My Life…I Don’t Recall Him Being There’
(DBN)

Laura Loomer Sets to Work on New MAGA Civil War on Trump Pick
(DBN)

The Anti-Semites in the Conservative Manosphere
(DBN)

Why are men so much more right-wing than women now?
(DBN)

____________

Celebs:

Won’t You Be My Neighbor? No Thanks, Elon Musk.
(DBN)

Welcome to Starbase: Elon Musk to get his own city in Texas
(DBN)

____________

Retailing:

Rite Aid files for second bankruptcy in two years Rite Aid files for bankruptcy — again Rite Aid returns to bankruptcy protection as it seeks to sell most assets Rite Aid files for bankruptcy less than a year after exiting Chapter 11 Major drugstore chain files bankruptcy again after closing 800 stores Rite Aid tells vendors it ‘has generally stopped purchasing goods and services’
(DBN)

Clorox Lowers Sales Outlook as Consumers Cut Back on Shopping
(DBN)

____________

Trucking:

CVSA votes to put truck drivers with limited English out of service
(DBN)

____________

Autos:

Ford Pulls Outlook, Sees $1.5 Billion Hit From Trump Tariffs
(DBN)

Tesla's UK sales lowest in over two years in April as Europe snubs Musk
(DBN)

____________

Corporate Governance:

The TXSE is Domiciled in Delaware
(DBN)

____________

Food Beverage:

Dave Bautista-Backed Whiskey Distillery Files for Chapter 11 Bankruptcy
(DBN)

Breakfast Is Breaking
(DBN)

____________

Toys:

Mattel Pulls 2025 Forecast, Citing Tariffs’ Impact on Toys Mattel Says It May Hike Toy Prices Over Tariffs—Joining These Companies Warning Of Tariff Impacts
(DBN)

____________

New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (188 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (9 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

After striking out in bankruptcy court, Johnson & Johnson goes after expert witness in talc cases
(DBN)

Bankruptcy judge allows Maryland abuse survivors to sue Baltimore Archdiocese
(DBN)

____________

Ch. 7:

When Should A Corporation File Chapter 7?
(DBN)

____________

Aviation:

Air Traffic Controller Warns Newark Airport Unsafe for Travel Newark airport air traffic controller offers damning assessment: ‘It is not safe. Don’t fly into Newark’ Panic in the sky as Newark air traffic control loses radar and radio for 90 seconds The CEO of one of the world's biggest airlines has warned flyers to avoid a major US airport as it's canceled dozens of daily flights due to chilling safety concerns. What we know about the massive staffing shortage that has caused 7 days of major delays at Newark Airport
(DBN)

US Army pausing helicopter training flights around Pentagon
(DBN)

What airlines are saying to people who don't have a Real ID yet Why it took 20 years for the REAL ID deadline to be real
(DBN)

____________

Wind Energy:

Democratic-led states sue to block Trump's halting of wind projects
(DBN)

____________

Tourism:

'We definitely are collateral damage’: Tourism industry roiled by Trump’s new world order
(DBN)

California Warns of 9% Drop in Foreign Visits in Trump Backlash
(DBN)

____________

Hedge Funds:

Hedge Fund That Shorted AMC Is Now Liquidating
(DBN)

____________

Personal Finance:

Hate your job? Don’t switch careers before asking yourself 10 questions, says expert
(DBN)

____________

Movie Theaters:

Jon Voight Plan to Fix Hollywood Includes Incentives for Cinemas
(DBN)

____________

Healthcare:

Tulare Healthcare's successful resuscitation from Bankruptcy
(DBN)

Trump's push to privatize Medicare would be a disaster for taxpayers - especially seniors
(DBN)

UnitedHealth’s Move to End Cyberattack Loan Lifeline Upsets Medical Providers
(DBN)

Republicans eye ‘per capita caps’ in Medicaid savings search
(DBN)

Democratic-led states sue to prevent Trump from gutting health agencies
(DBN)

Nearly Quarter of People on Long-Acting Opioids Develop Addiction
(DBN)

____________

Transit:

New York asks judge to bar Trump from killing congestion pricing program
(DBN)

____________

Media:

MAGA media muscles up
(DBN)

____________

Student Debt:

Trump’s new plan for student loans, briefly explained
(DBN)

The student-loan trend that's 'alarming' lenders: Even borrowers with great credit scores are falling behind
(DBN)

Federal student loans are due again. A record percentage of borrowers are seriously delinquent
(DBN)

Student Loan Collections Are Poised to Test Bankruptcy Options
(DBN)

____________

UK:

Former Newcastle United star declared himself bankrupt after letter 'demanding' £4m
(DBN)

____________

EU:

Why the EU beats Trump at the art of the deal
(DBN)

Buy American? No Thanks, Europe Says, as Tariff Backlash Grows.
(DBN)

EU Sees Broader Trump Tariffs Hitting €549 Billion of Its Goods
(DBN)

Euro zone economic growth slows in April, services near stagnation, PMI shows
(DBN)

China's Xi ready to work with EU to expand ties
(DBN)

____________

Canada:

Lion Electric likely to be liquidated, court-appointed monitor says
(DBN)

Hudson's Bay backtracks on cutting workers' commission pay, but still won't offer severance
(DBN)

US Border Towns Are Being Ravaged by Canada’s Furious Boycott
(DBN)

Trump to Carney: I’m just not that into you
(DBN)

Toronto Home-Price Declines Accelerate Amid Trade War With US
(DBN)

____________

Brazil:

Lady Gaga bomb plot targeted LGBTQ crowd, third person planned ‘satanist ritual’ child killing, Brazil authorities say
(DBN)

____________

MENA:

Pressure Grows as Houthis Withstand US Campaign
(DBN)

Israel Preparing Full Takeover of Gaza: Reports Israel plans to occupy and flatten all of Gaza if no deal by Trump's trip An Israeli plan to seize the Gaza Strip is met with alarm UN and aid groups denounce Israeli-U.S. plan for Gaza aid delivery UN Chief 'Alarmed' By Israeli Military Plan For Gaza: Spokesman Gazans Struggling To Survive As Israel Plans For 'Conquest' UN humanitarian office rejects Israeli plan to shut down current aid system in Gaza Netanyahu promises to move Gaza’s population after Israel approves plan to ‘conquer’ the enclave
(DBN)

Iran Unveils New Missile Capable of Striking US Targets
(DBN)

Houthis Tease 'New Weapons' to Keep Planes Out of Israel's Skies
(DBN)

RFK Jr. Calls Out King Abdullah: ‘They’ve Cut Us Off’
(DBN)

____________

Russia:

European Allies Mull $90B Contingency for Ukraine If Trump Peace Plan Fails
(DBN)

EU to set out plans to halt Russian gas imports by end-2027
(DBN)

Ukrainian border guards helped draft-dodgers flee country, police say
(DBN)

____________

China:

China sees surge in worker protests over unpaid wages, factory closures and US tariffs
(DBN)

Chinese holiday spending inches up but trade war weighs on services
(DBN)

Why China is in no rush to seek U.S. trade deal
(DBN)

____________

India:

A practical alternative in Bhushan Steel insolvency case
(DBN)

JSW Steel-Bhushan Power fallout: In the absence of legal certainty, foreign investors may shun stressed assets
(DBN)

India's April diesel exports likely hit lowest level in over a decade, sources say
(DBN)

____________

Australia:

Case offers insights for insolvency practitioners being appointed by alleged secured creditors
(DBN)

____________

China:

China Services Activity Slips, Adding Risk of Rapid Slowdown
(DBN)

____________

Germany:

Germany's Merz fails to be elected chancellor in shock first-round vote
(DBN)

___________


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