June 4, 2026

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Biglaw Firm Launches AI Partner Doppelgangers To Help Train Associates
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AI shakes up big law, threatening the billable hour
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Bankruptcy Lawyer Managing Army of A.I. Employees
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Challengers test defenses of legal tech stalwarts
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Head Count Growth Further Slowed For the NLJ 500, Amid Economic and Political Constraints
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The Race To Match Milbank’s New $235K Salary Scale May Be Faster Than Anyone Expected
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Paul Hastings and J&J Subsidiary Settle Bankruptcy Fee Dispute
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More top partners are earning over $40M, including bonuses
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Kirkland & Ellis and Palantir to build AI tool to assist private equity firms
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Kirkland & Ellis AI Deal Raises New Questions About Legal Liability
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Former UBS private credit fund says law firm helped defraud it of $145mn
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Five Critical Questions Associates Should Ask When Their Law Firm Announces a Merger
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The 500 Largest Law Firms In America (2026)
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How a Prisoner Ended Up Alone in Court in a Death Penalty Case
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Artificial intelligence is better tutor than law profs, new study finds
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Insider Trading Case Puts Spotlight on BigLaw Security and Ethical Practices
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Senate will begin voting on funding immigration enforcement after Trump’s settlement fund is droppedSenate GOP to face major test on Trump’s ‘anti-weaponization’ fund with immigration voteThe White House's new site about 'aliens' has nothing to do with UFOsGreen Card Update: Senator Takes Step to Kill Trump Admin ChangeNewark’s detention center requires real accountabilityIn Apparent Reversal, Mullin Says Abrego Garcia Could Be Deported to Costa Rica
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Justice Dept. says it has obtained superseding indictment against Southern Poverty Law Center with new details on donor funds
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Todd Blanche Is Your New Attorney General. Probably.
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Trump admin allegedly violating FOIA over requests for Kash Patel's expenses
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Trump expands $10B WSJ lawsuit with Maxwell, Murdoch claims
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Diddy may face sex assault case as LA prosecutors review claims
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Navy vet charged with murder after attack on California man known for pro-Trump displays
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Neighbor hurled boy down 'large ravine' after his unleashed dogs mauled him to death: AG
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Tech titan arrested at $35m mansion over selling US equipment to Iran's military and nuclear programs
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Suspect who took 10 people hostage in California standoff has been shot and killed, police say
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Funeral director hired to cremate woman dumps her body in the woods and walks away
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Thieves are targeting the world's copper. This phone company is fighting back
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Woman 'disgusted' at being labeled 'girlfriend' shoots her admirer dead
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Daycare worker smacks 5 kids between the ages of 2 and 4 with metal stapler: Cops
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Father annihilates his family with 9 mm, executing his 2 'little boys' and wife: Cops
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Man, 71, trying to help someone get parking spot kicked and killed by other driver: Cops
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Woman said her dog grabbed her truck's steering wheel and caused fatal crash: Police
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Microwaved Fish Leads To Cop's Felony Arrest
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Pa. firefighter intentionally sets 3 fires in 30-hour span, officials say
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Judges:

Ninth Circuit Warns of AI Hallucinated Briefs in Sanctions Order
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‘Infuriated’ Former Judges Take on Trump
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Supreme Court turns toward an explosive final month with Trump’s priorities at stake
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Trump blames court block for collapse of 'weaponization' fund
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Sex In Chambers Met With Slap On Wrist
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Obama-era judge in Atlanta under pressure over sex scandal
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“Judicial Committee Proposes Stricter Amicus Curiae Disclosure Rules to Boost Court Transparency”
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Usha Vance says Supreme Court, federal judges should be treated with 'respect'
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Why Fewer People Are Voting For Judges And Why That Might Be A Good Thing
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DOJ lawyer faces skeptical appeals court in bid to end agreement protecting immigrant kids
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Federal judge pauses sentencing to weigh argument in Wisconsin judge’s immigration case conviction
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Courts may deliver the anti-vaccine movement’s biggest win
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Wall Street:

S&P 500 futures fall as Broadcom leads tech stocks lower
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SpaceX seeks IPO fee cut from Wall Street bankersSpaceX targets $75 billion in IPO at $135 per shareSpaceX Is Massively Overvalued Ahead of Its IPO, Analysts Find
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Layoffs:

GitLab cuts 14% of staff as it scales its platform to serve AI workloads
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Uber is cutting 23% of its people team, which includes human resources and recruitment staff
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15 companies that have said they're doing AI-related layoffs
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Bell Textron lays off hundreds of Fort Worth and Texas employees
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Wisconsin Rapids trucking company informs employees to expect mass layoffs
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Amazon engineers in Seattle slam employer for building AI data centers while laying off staffers
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Healthcare:

Filing Alert: Amerimed Emergency Medical Services Chapter 11
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Athletico Holdings in Talks to Hand Control to Lenders in Debt-to-Equity Swap
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Ebola Reaches New Area as Contact Tracing Breaks DownInside the race to develop a new Ebola vaccineWHO says Ebola response catching up as confirmed DRC cases hit 344Ebola spreads to new areas of DR Congo as outbreak widens
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5 takeaways on Trump’s divisive Medicaid work requirements
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Climate:

The weather phenomenon that could shake the world
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Fraud:

Florida pastor and son’s $8 million covid fraud case comes to bizarre end
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Pillsbury Partner Faces Allegations in $145 Million Fraud Case
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'Agreement' could help victims, creditors in alleged Ponzi scheme
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Fintech:

Fintech Revenues Hit Record $504B In 2025
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Private Credit:

Private credit faces 'pipeline of defaults,' Holly Kim says
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Private credit marks drawing more scrutiny from SDNY prosecutors
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KKR, Blue Owl, and Blackstone tumble. Why private-market jitters are back and hitting the stocks
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Fresh Investor Retreat Reignites Debate on Private Credit Peak
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EU Insurers Need to Grasp Private Credit Risks, Watchdog Says
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Sorry Marc, it’s just not that big
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Another redemption wave is spooking the $2 trillion private-credit market
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Non-Profits:

Senior Services Center of Will County in bankruptcy with $8.4M debt, but CEO says no cuts planned in services
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Student Debt:

Trump wants to make a complicated process for millions of student-loan borrowers easier
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Golf:

Cameron Smith Speaks Out on Potential LIV Golf Pay Cuts Amid Growing Bankruptcy Rumors
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Economy:

Scott Bessent says US inflation jump will be ‘short-term blip’
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Logan: Fed May Need to Hike Interest Rates This Year to Confront Inflation
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Donald Trump’s pledge to unleash a ‘golden age’ of US manufacturing sputters
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America’s ‘other’ economy tells a different growth story
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Iran war energy shock could slam global economy into recession, OECD warnsOECD warns of ‘scarring effects,’ recession scenarios—but finds ‘no signs of widespread labor displacement’ from AIUS GDP growth to slow from 2% this year to 1.8% in 2027: OECD forecast
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US private employers add 122,000 jobs in May, beating estimates, ADP says
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Ray Dalio says US is 'past the point of no return' on debt, sees 1930s-style 'financial repression' coming
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Trump Administration Fights Court Order to Refund Some TariffsTrump is quietly rebuilding his tariff engineUS trade judge warns DOJ appeal could upend Trump tariff refunds Trump Administration Turns to a New Rationale to Justify Old TariffsCanada calls to renew trade deal with U.S. and Mexico as Trump revives ‘51st state’ talkTrump DOJ launches fierce fight to keep one official off the witness stand
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Your Social Security check could be cut by $500 a month in 2032, report finds
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Single women without kids as rich as single men
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The class of 2026 might have to pivot in their job hunt
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Your work team is now a 'pod' and your co-workers are AI agents
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Trump’s empire of debt
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US Debt Clock
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World Debt Clock
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Real Estate:

Connecticut Bankruptcy Court: A Court-Approved Judicial Foreclosure Sale May Be Avoidable as a Preference
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Dallas Housing Market Cools as H-1B Visa Indian Buyers Vanish
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CMBS Delinquencies Rise To 7.28% In Q1
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A simple way to lower everyone’s property taxes
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‘Sounds very Mamdani’: DeSantis embraces tax-the-rich message on property taxes
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Hovnanian swings to loss as housing market remains frozen
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San Francisco homebuyers have officially lost their minds
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N.Y.C. Rent Freeze Wouldn’t Spell Doom for Most Landlords, Report Says
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Doheny Sunset Files Chapter 11 in Central District of California
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Filing Alert: West Ridge HoldCo Chapter 11
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Filing Alert: Mainland City Centre Owner Chapter 11
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Developer Jeff Tegethoff's Company Files For Chapter 11 Bankruptcy
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Oil/Gas:

Did the Iran war force peak oil?
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Iran Shock Jolts Asia and Europe to Speed Up Energy Transition
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Global oil inventories on track for critical levels before summer peak, IEA says
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Iran war drains US oil stocks to lowest level since 2004
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Slumping Chinese oil imports ‘shield’ global market from higher prices
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Festivals:

Phoenix Pride files for bankruptcy as corporate sponsors abandon Prides across the country
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Politics:

Tracking approval and key issues500 days of Trump — and things look worse than ever for the PresidentApproval Hits Another Low
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House votes to rebuke Trump over war with IranIran vote caps Trump’s congressional losing streakHouse Passes War Powers Measure on Iran, But Trump Will Likely Kill It
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Don’t Build the Arch
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Trump suggests he won’t take down UFC ‘Claw’ on White House lawn
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Party of 1: How Trump’s ego destroyed America’s 250th birthday
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Supreme Court Republicans Refuse To Explain Why Alabama Can Now Use Racist Election Maps (But PLEASE Don’t Think They’re Just Being Political About It)
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Senate moving forward with reconciliation bill, dropping White House ballroom funds
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Trump's Immunity Deal Stinks Even More Than His Blatantly Corrupt 'Anti-Weaponization Fund'
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Republicans won the redistricting battle. Now voters will decide whether they win Congress
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MAHA candidate beats Trump’s choice in Republican primary for Iowa governorA Trump Endorsement Falls Flat: 4 Election Takeaways From Iowa and BeyondIowa Senate race shifts toward Democrats after Turek win: Cook Political ReportThe Narrow Path to a Democratic Senate Runs Through Very Red States
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Attitudes toward same-sex marriage and transgender issues are shifting, Gallup poll shows
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GOP Rep. Andy Ogles deletes homophobic social media post, blames staffer
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George Conway Won Fame as a Never-Trumper. Will New York Voters Buy It?
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Out of Time to Delay, House to Vote on Directing an End to the War in Iran
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Elon Musk is expected to become the world’s first trillionaire. Democrats are taking aim.$3.6 Million an Hour—and Other Ways to Measure Elon Musk’s Fortune
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L.A. Mayor Karen Bass pulled into a runoff, with Spencer Pratt leading the pack of challengers
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Trump library says no Twitter DMs can be found, despite evidence he sent them
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Missing congressman wins primary, promises to explain
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Trump’s least qualified appointee yetPence: ‘I expect there will be issues’ around Pulte pick as Trump DNINew Intelligence Chief’s Expertise: Pursuing Trump’s Enemies
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Fetterman on eliminating filibuster: ‘We were so wrong, so wrong about that’
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Kristi Noem's remaining allies at DHS were associated with her controversial contracting practices
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Senate GOP furious as Trump's own moves blow up his legislative priorities
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MAGA lawmaker calls for progressive American Hasan Piker to be banned from his own country
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Science:

Donald Trump’s proposed grant rules could destroy US science, researcher warns
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Furniture:

A Nearly 70-Year-Old California Based Mattress Company Files for Chapter 11 Bankruptcy
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Sleep Number stock plunges 60% on bankruptcy preparation report
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Banking:

Federal Reserve Reports Slight Rise In US Bank Loan Delinquencies
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Deutsche Bank to set aside more than expected for souring credit
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Celebs:

Shilo’s $11.89M Bankruptcy Heads to Trial 11 Years After a 2015 Schoolyard FightShilo Sanders faces legal trouble again as Mercedez-Benz looks to repossess his car
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Retailing:

Fort Lauderdale-based West Marine files for Chapter 11 bankruptcy
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Neiman Marcus to Close for Good in Downtown Dallas
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Saks Global's evolving business model amid bankruptcy exit
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Environmental:

Bankrupt Virginia landfill poses potential environmental catastrophe: 'Who's going to pay for it?'
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Food/Beverage:

FAT Brands Bankruptcy Sale Approved: Four Buyers Share a $1 Billion Portfolio
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A dream, a bankruptcy, and a fateful email: Inside the collapse of Clover
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Private Equity:

Partners Group warns it could cap more fund withdrawals after triggering private equity rout
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Plastics:

Trinseo Excluded OpCo Lender Group Sues to Invalidate Double-Dip LME, OpCo Intercompany Loan; Accuses Super HoldCo Lenders of Inequitable ‘Loan-to-Own’ Strategy
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (27 new filings today)
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Recent Ch. 11 Adversary Proceeding Filings (23 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

Corporate Insolvency Services Market to Reach USD 27.6 Billion by 2036, Driven by Rising Bankruptcy Filings and Restructuring Demand
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Mass Torts:

Bayer says no plans to spin off Monsanto despite litigation threat
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Investment Banks:

Perella Weinberg’s Head of U.S. Restructuring Departs for Evercore
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Bankruptcy Alternatives:

Bankruptcy Alternative Gaining Steam With Uniform Act
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IP:

Appeals Court Reverses 2 Live Crew’s Copyright Termination Victory Based on a Bankruptcy Detail11th Circuit and 2 Live Crew: Contingent Copyright Termination Rights Are Property of the Bankruptcy Estate, but Questions Remain
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Bankruptcy Audits:

Bankruptcy Audits Reveal Deception — and Confusion
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Aviation:

British cargo airline European Cargo enters administration
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FAA probes close call between JetBlue plane and aircraft near Fort Lauderdale Airport
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Frontier passenger chokes off-duty flight attendant after trying to open exit door and cockpit on Chicago flight, police say
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Media:

Bari Weiss Speaks on Scott Pelley’s Firing: ‘That’s the Path That He Chose’The Murder of ‘60 Minutes’The big unanswered questions about '60 Minutes' after Scott Pelley's firing'60 Minutes' star levels shock charge at MAGA-curious bossWhat smart people are saying about Scott Pelley being fired from '60 Minutes'Fired Scott Pelley breaks silence with bombshell claim: CBS ordered him to put lies on airTop Media Reporter Says ’60 Minutes’ Could Lose Entire Staff in a ‘Matter of Weeks, if Not Days’
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History:

The Revolutionary War’s chief villain is being rehabilitated — just in time for America’s 250th
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Transit:

I rode Elon Musk's Vegas Loop, the worst transit system on Earth
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Pharma:

Filing Alert: Inotiv Chapter 11Inotiv Files for Chapter 11 Bankruptcy to Cut Debt by $326M
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Tech:

Sam Altman says OpenAI's top token spender uses 100 billion tokens a month — and they're not even the world leader
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In Leaked Document, Microsoft Plots How to Get People “Addicted” to Its AI
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Fears of dotcom bubble 2.0 as trillion-dollar AI floats swamp the market
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GitHub Copilot users get a rude awakening as new AI pricing goes into effect
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Chatbot Teddy Bears Are Here: Experts Sound Alarm On Kids’ AI Toys Designed To ‘Sound Human’
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Alex Karp says there are 2 ways to know if you have a future in the age of AI
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New study shows uptick in number of young people seeking mental health help from AI
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The world’s biggest tech companies are betting big on computers that control themselves
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AI policy groups call for NDAA guardrails on lethal autonomous weapons
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America’s data-center build-out is falling way behind schedule
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In a first for the country, voters in Monterey Park ban data centers
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SpaceX wins tax exemption for $55bn AI chip plant despite local backlash
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Personal Genomics:

23andMe Targets 100 Million Users After Bankruptcy Reset
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The 23andMe Collapse Is a Master Class in Why Founders Shouldn’t Always Get Their Way
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Education:

College Professors Say Incoming Students No Longer Understand Middle School Math and Science
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Autos:

Creditors call First Brands a ‘Ponzi scheme’ in new bankruptcy filing
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Car owners shocked by $200 gas bills finally embrace used EVs
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Crypto:

Bitcoin Is Taking a Nasty Swim
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Music:

Ben Folds warns that National Symphony Orchestra ‘may not survive’ Kennedy Center chaos
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UK:

Insolvency practitioner bonds held on trust: insolvent estates and successor IPs can take control of claims
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Amendments to the Insolvency Rules Provide Welcome Clarification
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86% of construction firms facing serious financial distress
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Lawrence Dallaglio faces fresh bankruptcy scrutiny amid £200,000 spending claims and undisclosed bank account allegation
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Handcuffed student’s death sparks uproar in UK, as far right accused of inflaming tensions
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A Kafkaesque Snag for U.K. Travelers: System Outage Won’t Let Them Board
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EU:

Hungary lifts 17-month veto on Ukraine’s EU membership bid
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Canada:

Toronto home sales jump most in 10 months as prices decline
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Australia:

Retail insolvencies keep growing in FY26
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MENA:

Trump Dreads an Iran Deal Worse Than Obama’sRubio is optimistic on eventual Iran nuclear talks despite congressional skepticism Iran strikes Kuwait’s main airport and kills 1 as ceasefire is tested againIran threatens to resume war with huge strikes on Israel as Trump's ceasefire on brink UN chief proposes options to help end Israel-Hezbollah conflict after peacekeepers leave LebanonIran nuclear risk seen higher than before Trump attacks beganIran says no progress in talks with US as Lebanon sees more clashes
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Gulf states in talks for oil pipelines to bypass Hormuz
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Israel and Lebanon agree to implement ceasefire
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Russia:

Russian IT magnate's bankruptcy raises pressure on debt-laden Fplus Group
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Ukrainian drones strike St. Petersburg, hours before 'Putin's Davos' opens
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Ukraine's 'secret drone' is choking a key Russian supply highway 60 miles behind enemy lines
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Candace Owens caught secretly joining Russian forum tied to spy recruitment
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Brazil:

Raizen Submits $13 Billion Debt Overhaul Plan to Creditors
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Trump administration proposes 25% tariffs on Brazil despite extensive US trade surplus
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India:

Small-ticket insolvency cases need separate mechanism, says ICRA
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Why are IBC recoveries falling despite India's bankruptcy reforms?
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Moldova:

Moldova to Launch Guarantee Fund to Protect Workers in Employer Bankruptcy
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