May 9, 2025

The Daily Bankruptcy News

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3-Column Formating

 

Law:

General Counsel ‘No Longer Trust’ Biglaw 'Proof is nonexistent': Judge tears into DOJ lawyer over Trump's law firm attacks Trump’s Law Firm Deals Now Clearer, but Still Far From Clear Trump order against law firm Susman Godfrey faces court test Judge Questions Basis for Trump Order Targeting Susman Godfrey
(DBN)

Law Firms Tiptoe Forward With Diversity Under Trump Scrutiny
(DBN)

T14 Law School Selects Dedicated Professor As Its Next Dean
(DBN)

Biglaw Merger Talks Could Create New $2 Billion Firm McDermott, Schulte Talk Merger to Create $2.8 Billion Law Firm
(DBN)

Biglaw Partner Compensation Is Not Created Equal
(DBN)

Linklaters moves away from billable hours for bonuses
(DBN)

DC Bar Election Seems To Be Tracking Canada, Australia… Papacy
(DBN)

Tom Girardi hospitalized on eve of mental evaluation hearing
(DBN)

Fan Sues NFL For Emotional Distress Over Shedeur Sanders Draft
(DBN)

Hogan Lovells accidentally discloses over 4,000 documents
(DBN)

Southwest’s Religious Bias Loss Upheld, Training Nixed
(DBN)

Dead Victim’s AI Deepfake Brought In To Speak At Sentencing
(DBN)

Lawyer busted for plastering documents with a purple besuited dragon
(DBN)

Trump yanks Ed Martin's U.S. Attorney pick after backlash to Jan. 6 comments Trump will replace polarizing DC US attorney pick Ed Martin
(DBN)

Fox Host Jeanine Pirro Tapped as Top Acting D.C. Prosecutor
(DBN)

‘You Have No Timeline?!’ Senator Gobsmacked by FBI Director Kash Patel Showing Up at Budget Hearing Without a Budget FBI chief reverses course after saying White House budget proposal too low
(DBN)

FBI Boss Kash Patel Reveals Whether He Thinks Epstein Killed Himself
(DBN)

Trump asks US Supreme Court to allow revocation of migrants' legal status Trump asks Supreme Court to allow him to end humanitarian parole for 500,000 people from 4 countries US Democratic lawmaker asks Pentagon watchdog to probe if deportation flight broke law 'Still in the dark': Attorneys seek depositions of Trump officials in Abrego Garcia case Trump admin using state secrets privilege to keep info on Abrego Garcia under wraps: Judge Mexican repatriations from US ramped up in recent weeks, president says Trump’s latest deportation scheme is almost certainly illegal Grandmother in U.S. without documentation faces deportation after wrong turn in San Diego Trump officials seek to bring first white South African refugees to US next week
(DBN)

FBI probes New York AG James over mortgage fraud allegations, media reports
(DBN)

Eric Adams touts a drop in crime. The numbers tell a different story.
(DBN)

Cash-strapped Bureau of Prisons freezes some hiring to 'avoid more extreme measures,' director says
(DBN)

Coal miners head to court over Trump cuts to black lung screening staff
(DBN)

Top Washington state court upholds ban on high-capacity gun magazines
(DBN)

Mom 'played dead' after son shot her in face with crossbow in cat dispute: Police
(DBN)

Mom 'tried to run over a group of elementary students' after they fled from fight: Police
(DBN)

14-year-old boy bragged in journal about having 'hella fun' stabbing a man 22 times: Cops
(DBN)

Police arrest father whose teen daughter killed 2 in Wisconsin school shooting
(DBN)

Armed driver raging over fender bender threatens to kill woman's baby, rape mother: Cops
(DBN)

Jennifer Aniston's alleged stalker appears in court shirtless and a judge orders a mental evaluation
(DBN)

Man says he is from 'the Cartel,' kidnaps boys from park, puts them in crawl space: Cops
(DBN)

Lawyers for man executed by firing squad in South Carolina say bullets mostly missed his heart Firing squad death was "prolonged" after bullets missed target, doctor says
(DBN)

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Judges:

Chief justice says courts must be free to check ‘excesses’ of Congress, White House Chief Justice John Roberts stresses judicial independence amid tensions with Trump John Roberts Once Again Rebukes Donald Trump’s Attacks On The Judiciary
(DBN)

Justice Sotomayor Stands in ‘Solidarity’ with Embattled ABA
(DBN)

Trump Has Been Stopped By Courts More Than 200 Times
(DBN)

Donald Trump Hit By Double Legal Blow In Hours
(DBN)

2nd Circuit Orders Return Of Vermont Grad Student Abducted By ICE Because She Wrote An Article They Didn’t Like
(DBN)

Trump’s Power Over Mass Layoffs Heads for Courtroom Showdown
(DBN)

Judge orders discovery of Trump admin in high-profile Alien Enemies Act case
(DBN)

Judge blocks Trump admin from pulling San Francisco housing funds over anti-DEI rules
(DBN)

Trump and DOGE win court approval to dismantle Social Security offices and fire workers
(DBN)

‘There was in fact a defendant named Jaques Strapp,’ says judge defending his corny ‘dad jokes’
(DBN)

Judge slams 'appalling' misbehavior of barrister who invented five cases
(DBN)

Courts’ Stances on #MeToo Law’s Pleading Standard Sow Confusion
(DBN)

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Wall Street:

 

Wall Street rallies as first trade deal domino falls
(DBN)

Wall Street rises on hopes for trade deals that could forestall a recession
(DBN)

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Layoffs:

Rite Aid plans to lay off thousands of workers in Pa. and N.J. amid bankruptcy
(DBN)

National Park Service To Be Hit With 1,500 Additional Layoffs And Deep Budget Cuts, Reports Say
(DBN)

The Actual Math Behind DOGE’s Cuts
(DBN)

Panasonic to cut 10,000 employees
(DBN)

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Politics:

Pardons for friends, retribution for foes
(DBN)

Polls Show Enthusiasm Gap Now Working Against Trump Donald Trump's Most Favorable Poll Notes Collapse in Approval Rating Donald Trump's Approval Rating Is Underwater in Florida and Texas
(DBN)

Acting FEMA chief abruptly ousted ahead of U.S. hurricane season FEMA's acting administrator is replaced a day after congressional testimony FEMA head ousted one day after saying eliminating agency not in public’s interest
(DBN)

Congress counters Trump with massive FEMA restructuring plan
(DBN)

The Disturbing Rise of MAGA Maoism Trump's new nationalism
(DBN)

‘Why Does Everybody Hate Me?!’ John Fetterman Left Staffer in Tears After Melting Down During Meeting: Report John Fetterman finds himself increasingly alone
(DBN)

Anti-Trump, anti-billionaire protest disrupts Manhattan gala
(DBN)

Denmark summons US diplomat over report on increased US intel gathering in Greenland
(DBN)

Social Security, Medicare Cuts Face Massive Opposition in Deep Red State
(DBN)

Trump fires head of Library of Congress, New York Times reports
(DBN)

Texas Bill Would Let Election Judges Carry Guns at Polling Sites
(DBN)

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Newspapers:

Cortland Standard finds new owner, will resume publication after bankruptcy filing
(DBN)

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Buses:

Lion Electric bankruptcy raises concerns over state's EV incentives
(DBN)

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Economy:

Empty shelves, for-lease signs and job layoffs point to recession by summer
(DBN)

Trump’s Inevitable Betrayal of His Supporters
(DBN)

Weekly Initial Unemployment Claims Decrease to 228,000
(DBN)

US labor market stays resilient, but workers less productive in Q1
(DBN)

NY Fed survey finds deteriorating views on household financial situation
(DBN)

Trump says a rate cut would be like ‘jet fuel’ for markets, but Powell doesn’t want to do it Trump bashes Jerome Powell on interest rates: ‘Like talking to a wall’ Trump castigates Fed's Powell for not cutting rates, downplays inflation risk Trump’s Attacks On Fed’s Powell Explained: Why President Called Him A ‘Fool’ Jerome Powell says the Fed can afford to wait and see before cutting rates. Other economists aren’t so sure Despite Trump's Criticism, Powell Keeps Congress on His Side
(DBN)

Global central banks diverge as tariff risks hamper US Fed
(DBN)

U.S., Britain strike first major trade deal of Trump tariff era Trump confirms first trade deal with UK, 10% rate will be ’lowest end’ Trump's UK Trade Deal Leaves Key Issues Unresolved Trump heralds 'breakthrough' deal with UK What's in the US-UK economic deal? Why the U.K. trade agreement matters European shares rise as Trumps signals 'major' trade deal US commerce chief says dozens of trade deals to be rolled out over next month India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump Trump says China tariffs will come down from 145% US weighs plan to slash China tariffs to as low as 50% — down from 145% — as soon as next week: sources Inside China's decision to come to the table on Trump tariffs As trade talks begin, Chinese exporters prepare to get goods moving to US again Trump Says ‘Substantive’ China Talks Could Yield Tariff Cut Near-record US container import streak expected to snap in May due to tariffs Moody's says tariffs may hit African banks through China slowdown EU sets out possible 95 billion euro response to U.S. tariffs Thai central bank chief says uncertainty very high over US tariffs impact What items are in the EU's new response measures to Trump tariffs? ‘Crony capitalism’: GOP megadonor Griffin slams Trump trade war Illumina Cuts Guidance on Threat From Tariffs and China Ban
(DBN)

Trump Can Use Private Whistleblower Lawsuits for Tariff Evasion
(DBN)

AG tries to halt Trump's 'illegal tariffs,' says they have 'brought chaos' to states
(DBN)

Bill Gates Goes Nuclear on Elon Musk: ‘The World’s Richest Man Killing the World’s Poorest Children’ Bill Gates pledges his remaining fortune to the Gates Foundation, which will close in 20 years The $200 Billion Gamble: Bill Gates’s Plan to Wind Down His Foundation Bill Gates doubles giving to $200 billion, says philanthropists can’t cover government cuts
(DBN)

Trump tells Congress to raise taxes on the rich in ‘big, beautiful bill’ Trump Seeks Tax Hike on Wealthy Earning $2.5 Million or More
(DBN)

U.S. companies end Pride sponsorships as anti-DEI pressure mounts
(DBN)

The top 10 industries for finding entry-level remote jobs right now
(DBN)

Trump urged Speaker Johnson to raise top tax rate, sources say
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Realtor.com Reports Most Actively "For Sale" Inventory since 2019
(DBN)

Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this year
(DBN)

Gen Z, Millennials Don't Want to Buy Starter Homes
(DBN)

Americans believe real estate, gold are the best long-term investments. They’re wrong, advisors say
(DBN)

Shuttered Hahnemann University Hospital properties get $16.25 million bankruptcy bid
(DBN)

A&G Lists 1,200 Rite Aid Store Leases in Bankruptcy Sale
(DBN)

The deceptively simple reform that could unlock more housing
(DBN)

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Municipalities:

Trump’s Agenda Will Hammer State and Local Governments
(DBN)

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Religion:

Meet Cardinal Robert Francis Prevost, the first American pope Villanova Alum Known as ‘Father Bob’ Papal conclave ends on second day, in line with two centuries of tradition Trump says it is ‘such an honor’ that Vatican elected first U.S. pope New Pope Leo XIV spent years retweeting criticism of Trump policies 'JD Vance is wrong' Voted in Republican primaries Pope Leo XIV Sparks MAGA Criticism Prevost, first U.S. pope, supported Francis and shunned spotlight New pope led Order of St. Augustine dedicated to the poor and service 5 takeaways from Robert Prevost’s election as first American pope Is the new pope liberal or conservative? Neither.
(DBN)

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Bankruptcy Crimes:

Man pleads guilty to trying to hide $1M in bankruptcy case
(DBN)

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Food/Beverage:

Sacramento Distillery Files for Chapter 11 Bankruptcy After Sudden Closure
(DBN)

Beloved Mexican restaurant chain closes every location after 20 years in business
(DBN)

After the Chapter 11 Bankruptcy, Popular Restaurant Chain’s Comeback Begins in Buffalo
(DBN)

Burger King-parent Restaurant Brands' quarterly results miss on weak demand
(DBN)

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Solar:

New Jersey family left in the dark after $55,000 solar panel system breaks down and the company files for bankruptcy
(DBN)

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Banking:

Citigroup must face $1 billion lawsuit claiming it aided Mexican oil company fraud
(DBN)

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Hotels:

Occupancy Rate Increased 1.8% Year-over-year
(DBN)

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Autos:

Tesla's Cybertrucks Are Piling Up
(DBN)

Auto Parts Maker Linamar Emerges as Surprise Winner From Trump’s Tariffs
(DBN)

____________

Ports:

'We Currently Have No Container Ships,' Seattle Port Says Trump on ports slowdown: "That means we lose less money"
(DBN)

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Tech:

Workforce AI skills are advancing too slowly as the technology zooms ahead. Something has to give
(DBN)

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Tourism:

NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies
(DBN)

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Education:

‘Incensed’ Columbia Chief Blasts Protesters After 80 Arrests
(DBN)

Budget-busting voucher expansion could bankrupt Wisconsin public schools
(DBN)

____________

Steel:

Nippon Steel sees 43% profit fall, says it is cooperating with review of US Steel bid
(DBN)

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Agribusiness:

Bankruptcies show stress in farm economy
(DBN)

AeroFarms turned itself around after bankruptcy. Is it a sign that vertical farming can succeed?
(DBN)

____________

Weight-Loss:

WeightWatchers blames diet drugs and social media for bankruptcy WeightWatchers CEO reveals company’s ‘future’ after bankruptcy filing as brand promises to move away from ‘diet club’ Moody’s downgrades WW’s ratings following Chapter 11 bankruptcy filing
(DBN)

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New Bankruptcy Opinions
(3 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (22 new filings today)
(DBN)

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

Chapter 11 Bankruptcy Case Studies
(DBN)

Mass Torts:

Fourth Cir. Ponders Broad Effect of Bestwall on All Bankruptcies
(DBN)

Archdiocese abuse survivors may have had information exposed in cyber breach Data breach involving Baltimore Archdiocese bankruptcy case concerns DOJ Baltimore and New York archdiocese abuse survivors possibly exposed in cyber incident
(DBN)

Asbestos Mining Company Named in Mesothelioma Lawsuits Seeks Bankruptcy Protection
(DBN)

Asbestos clinic forced to close in Montana town where thousands have been sickened by dust
(DBN)

____________

Aviation:

FAA Pledges Air-Traffic Fixes for Newark Airport
(DBN)

US proposes building new air traffic control towers, radar systems
(DBN)

Trump's plan to fix air traffic control faces huge hurdles
(DBN)

Interim examiners appointed to insolvent CityJet following urgent application
(DBN)

IAG orders 71 long-haul jets split between Airbus and Boeing
(DBN)

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Healthcare:

Signed and Scrubbed: April 2025 hospital M&A, bankruptcy list
(DBN)

Republicans weigh cuts to Medicaid that could dramatically affect millions GOP centrists revolt against steep cuts to Medicaid and other programs in Trump's tax breaks bill
(DBN)

Democrats push GOP toward Medicare ‘upcoding’ instead of Medicaid cuts
(DBN)

U.S. Life Expectancy Study Shows Southerners Barely Living Any Longer Than Those Born In 1900
(DBN)

Map Shows US Counties With Life Expectancy Below North Korea's
(DBN)

The MAGA backlash to Trump’s MAHA surgeon general pick RFK Jr.’s former running mate attacks Trump’s new surgeon general pick Loomer targets new Trump surgeon general pick
(DBN)

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Corporate Governance:

Texas Reacts to Delaware Musk Beef, Delays Business Court Growth
(DBN)

____________

Celebs:

Kanye West releases 'Heil Hitler' song featuring audio of Nazi leader speech
(DBN)

FTX lawsuit against Tom Brady, Stephen Curry, Shohei Ohtani, others is narrowed
(DBN)

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Climate:

US will stop tracking the costs of extreme weather fueled by climate change
(DBN)

Florida Sees Worst Drought In 24 Years
(DBN)

Map Shows States Seeing Twice as Many Tornado Reports as Last Year
(DBN)

____________

Crypto:

Steph Curry, Tom Brady and other celebrities excluded from most FTX investor claims, judge rules
(DBN)

Democrats vote to reject Senate crypto bill
(DBN)

Celsius founder Alex Mashinsky gets 12 years prison for crypto fraud
(DBN)

____________

Student Debt:

Student Loan Servicers’ Post-Bankruptcy Collections Blocked
(DBN)

‘It may officially put us into a recession’: Economist reacts to student loan repayments taking effect this week
(DBN)

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Sovereigns:

IMF says Nigeria repays $3.4 billion COVID-19 funding
(DBN)

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UK:

BoE cuts rates to 4.25% as it sees tariff hit to growth
(DBN)

Starmer Gets Diplomatic Win He Needs, If Not the Economic Boost
(DBN)

What the U.S.-U.K. trade deal Trump announced means for Britain
(DBN)

Brits hit out over UK tariff deal: 'Scammed!'
(DBN)

US-UK trade deal 'good news' but still means higher tariffs, Bank of England governor says
(DBN)

The art of the possible: Britain settles for quick win in US trade deal
(DBN)

____________

EU:

Europe sets plans to hit back at Trump, impose tariffs on US goods
(DBN)

EU Poised to Set Up Court to Prosecute Putin, Kremlin Officials
(DBN)

____________

China:

Treasury sanctions Chinese refiner, port operators over Iranian oil
(DBN)

US to seek UN sanctions on ships taking North Korean coal to China
(DBN)

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MENA:

India and Pakistan trade fire and accusations as fears of a wider military confrontation rise Explosions rock Indian Kashmir in suspected Pakistani attacks Villagers evacuated from line of fire along India's border with Pakistan
(DBN)

US State Dept says a solution for Gaza food aid is 'steps away'
(DBN)

Dozens of Gaza communal kitchens shut as supply runs out, worsening hunger
(DBN)

Israel's plan to evacuate Gaza would be illegal forceful displacement, Norway and Iceland say
(DBN)

Trump operation against Houthis cost more than $1 billion
(DBN)

US imposes Iran-related sanctions on third China 'teapot' refinery, port terminal
(DBN)

____________

Spain:

Spain’s deputy PM targeted by man ‘with two knives’ in horror broad daylight attack as cops taser and arrest suspect
(DBN)

____________

India:

Indian court's reversal of $2.3 billion deal casts shadow on bankruptcy law
(DBN)

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China:

'Friends of steel': Xi and Putin pledge to stand together against US
(DBN)

China's exports top forecasts helped by global rush to beat tariffs
(DBN)

China's April soybean imports hit decade-low as customs delays disrupt trade
(DBN)

China’s central bank unveils 10-point plan to help calm markets, steer growth
(DBN)

____________

Russia:

Ukraine says Russia hit 8 settlements 220 times during ceasefire
(DBN)

____________

Bermuda:

ICLG - Restructuring & Insolvency 2025 - Bermuda
(DBN)

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