January 21, 2022

The Daily Bankruptcy News

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Law:

Milbank Announces $215K Salary Scale To Kick Off The New Year!!! • Milbank Ups Associate Salaries to $215,000 in War for Talent • Second Firm Matches The New Milbank Salary Scale
(DBN)

The Tesla/Cooley Controversy
(DBN)

Heather Gerken Reappointed Dean Of Yale Law School For Another 5-Year Term
(DBN)

The Important Role of Business Lawyers as Custodians of the Rule of Law
(DBN)

The Zoom Boom in Law: The Good, the Bad, & the Data
(DBN)

This Biglaw Firm Is An All Around Champ
(DBN)

Bankruptcy barrister banged up for £100k tax fraud
(DBN)

Jury selection to start in federal trial over Floyd’s death
(DBN)

Jan. 6 panel asks Ivanka Trump to cooperate with investigation • Judge denies Trump spokesman's effort to force Jan. 6 committee to return financial records • Trump Papers Sought by House Jan. 6 Panel to Be Released, Chairman Says • What the Jan. 6 committee hopes to learn from Trump White House documents • Oath Keepers Member Charged with Seditious Conspiracy Who Allegedly Discussed 'Guerrilla War' Kept Behind Bars • Accused Militia Man Slated for the First Jan. 6-Related Trial Kept Behind Bars • InfoWars Host's Motion to Dismiss Jan. 6 Charges Denied, But Lawyer Hints at Future First Amendment Fight • Leaked Oath Keepers list names 20 current military members
(DBN)

Giuliani led fake electors plot • As Giuliani coordinated plan for Trump electoral votes in states Biden won, some electors balked
(DBN)

Sidney Powell's Got A Really Bad Idea
(DBN)

Supreme Court, investigators force Trump and his children on the defensive on multiple fronts
(DBN)

Alec Baldwin Sued for $25 Million in Federal Lawsuit Over Instagram Comments Allegedly Falsely Calling Sister of Fallen Marine 'Insurrectionist'
(DBN)

Oath Keepers Cached Weapons for Jan. 6 Capitol Attack, Prosecutors Say
(WSJ)

Georgia prosecutor requests special grand jury in Trump election probe
(DBN)

Trump Org valued golf course in Scotland at $161 million based on a quote to Forbes magazine and not a real valuation, NY AG says • How New York authorities are taking aim at Trump and his family
(DBN)

FBI conducts "court-authorized" search of Rep. Henry Cuellar's home
(DBN)

The world has moved on from Colleyville. American Jews can’t.
(DBN)

A Tennessee couple tried to become foster parents. They were denied because they're Jewish, lawsuit says.
(DBN)

The Continued Calamity at the Border
(DBN)

How to Stop the Migrant Caravans That Are Headed to Texas
(DBN)

In Atlanta’s Buckhead Neighborhood, Rising Crime Fuels Move to Secede
(WSJ)

A Georgia sheriff's deputy called Ahmaud Arbery a 'criminal' who 'got the death penalty.' He just resigned.
(DBN)

Wisconsin Man Who Lied About Getting a SpaceX Job Before Murdering and Dismembering Parents Found Guilty on All Counts
(DBN)

Tennessee Teen Kidnapped a Woman 8 Months Pregnant at Gunpoint for Being 'Rude,' Tried to Force Her to Walk Home Naked: Police
(DBN)

U.S. Supreme Court Rejects Abortion Providers Again on Texas Suit
(DBN)

Kyle Wants His Gun Back
(DBN)

______________

Judges:

The Supreme Court breaks with Trump on January 6
(DBN)

Supreme Court sides with murder defendant in major evidentiary ruling
(DBN)

After Hot Mic Debacle, Judge Is Off The Bench For Now
(DBN)

Holly Thomas Is Fourth Biden Pick Confirmed to Ninth Circuit
(DBN)

NPR's Totenberg on SCOTUS Mask Story
(DBN)

Sotomayor Calls Texas Anti-Abortion Case 'A Disaster for the Rule of Law,' Accuses Fifth Circuit of 'Egregious Distortion' of Recent Supreme Court Decision
(DBN)

______________

Wall Street:

Nasdaq futures fall 1% as Netflix drags tech-heavy index deeper into correction territory
(DBN)

Goldman, JPMorgan award bumper bonuses for top bankers • Goldman Sachs bonus pool for investment bankers up 40-50%
(DBN)

______________

Layoffs:

Bank of America’s Job Cuts Offer a Road Map for Navigating Higher Costs
(DBN)

In Texas, driverless trucks are set to take over roads
(DBN)

______________

Retailing:

Retail bankruptcies are on the decline
(DBN)

Escada America’s Trip to Bankruptcy Court
(DBN)

Superstores can meet half their electricity needs with rooftop solar, says a new report
(DBN)

____________

Labor:

Union membership remained low in 2021, following decades of declines — but the labor movement wants to change that • Union membership hits new low • U.S. Labor’s Watershed Year Failed to Boost Union Memberships • U.S. Union Membership Falls Despite High-Profile Labor Actions
(DBN)

____________

Book Reviews:

'Davos Man' is an angry, powerful look at economic inequality
(DBN)

____________

Religion:

Ex-Pope Benedict XVI failed to act in child abuse cases — report • German investigation accuses Pope Benedict XVI of 'wrongdoing' in handling of abuse cases while archbishop of Munich
(DBN)

Thousands of Germans Are Quitting Church to Avoid Paying Taxes
(DBN)

____________

Crypto:

Bitcoin Mining’s Hearing in U.S. House Questions Power Usage
(DBN)

Crypto.com Says User Accounts Breached Earlier Held $34 Million
(DBN)

____________

Mass Torts:

Boy Scouts sex abuse survivors in Texas eligible for less money
(DBN)

Alaska doctor, 64, is sentenced to three years in prison after five patients died from opioid overdoses
(DBN)

____________

Maritime:

Moby Bondholders to Get Equity of Ship Holding Unit in Debt Deal
(DBN)

____________

Celebs:

Erika Jayne’s Husband Tom Girardi’s Victims Score Small Victory In Court
(DBN)

Britney Spears’ Fight Against Her Father Allegedly Feathering His Nest & Spying On Her Going To Mini-Trial
(DBN)

Trick Daddy's Bankruptcy Case Explodes — $150K Net Worth Offset By $23K In Debts
(DBN)

____________

Climate:

Senator Brown Makes Pitch for Climate Action by the Fed
(DBN)

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Financial Literacy:

A professor said her students think average Americans make six figures. That's a long way off.
(DBN)

No, Wharton students, the average U.S. worker does not make $800,000 • Wharton Students Think Americans are Rich
(DBN)

____________

Healthcare:

A Quarter of U.S. Adults Are Too Lazy, New CDC Map Shows
(DBN)

US Covid doc: We are 'burned out'
(DBN)

We're used to stress in the ER. But omicron has made our jobs impossible.
(DBN)

Patients in pain as omicron wave leads to surgery delays
(DBN)

Two-thirds of corona jab reactions caused by placebo effect - study
(DBN)

Omicron’s Spread Through U.S. Cities Is Shown in Wastewater Study
(DBN)

Study finds bias against Black patients written into medical charts
(DBN)

Why Covid-19 is always one step ahead of the US response
(DBN)

COVID-19 Hospitalizations Are Up Over 1,000% in These Counties
(DBN)

Antigen Tests: Real World Data
(DBN)

Free rapid tests are about to roll out in the U.S. In other countries, they're already part of daily life.
(DBN)

Kidney Failure, Emergency Rooms and Medical Debt. The Unseen Costs of Food Poisoning.
(DBN)

Recent surge in U.S. drug overdose deaths has hit Black men the hardest
(DBN)

Why the Free Covid Test Website Was Such a Shock
(DBN)

Aiming to make CDC nimble, agency director has rankled many
(DBN)

____________


Economy:

Weekly Initial Unemployment Claims Increase to 286,000 • U.S. Jobless Claims Surge to Three-Month High on Omicron Impact
(DBN)

Four-day weeks and the freedom to move anywhere: Companies are rewriting the future of work (again)
(DBN)

Fed may run fast on long road to normal balance sheet
(DBN)

Surging Real Yields Jar Markets Eyeing End of Easy-Money Era
(DBN)

100+ ultra-rich people warn fellow elites in open letter: "It's taxes or pitchforks"
(DBN)

'Unprecedented:' States invest in child care to recover pandemic losses
(DBN)

Yellen defends Biden’s economic record, says she sees path to slower inflation
(DBN)

Pandemic Pessimism Grows Amid Omicron Surge
(DBN)

The Biggest Business Risks in 2022
(DBN)

Can You Expect a Raise in 2022?
(DBN)

How Trust In Business Varies Around The World
(DBN)

The State Where Income Is Rising the Fastest
(DBN)

This City Has the Fastest Job Growth in America
(DBN)

Latinos See U.S. as Better Than Place of Family’s Ancestry for Opportunity, Raising Kids, Health Care Access
(DBN)

Union Pacific signals staff crunch from COVID-19 to pressure volumes • Union Pacific Profit Tops Estimates on Higher Freight Prices
(DBN)

Workers are out sick in record numbers, exacerbating labor shortage woes
(DBN)

U.S. Hospital Staffing Improves as Rural States Still Struggle
(DBN)

9 Million Americans Out Sick with Covid
(DBN)

Amtrak to reduce train service amid omicron surge
(DBN)

Fed Officials Say Higher Immigration Could Ease U.S. Labor Shortage
(DBN)

Pelosi: Build Back Better may need to be 'more limited,' renamed • Pelosi, Manchin draw map for long road to slimmer 'Build Back Better'
(DBN)

A Slimmed-Down Biden Plan With Climate Focus Divides Progressives
(DBN)

Parents and caregivers of young children say they've hit pandemic rock bottom
(DBN)

LA Port Saw Record Cargo in 2021 Despite Trade Snarls
(DBN)

Grantham: We at End of a Superbubble
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Houses are about to get a lot more expensive
(DBN)

Something Has to Give in the Housing Market. Or Does It?
(DBN)

NAR: Existing-Home Sales Decreased to 6.18 million in December • More Analysis on December Existing Home Sales • U.S. existing home sales tumble in December • Sales of Existing U.S. Homes Drop for First Time in Four Months
(DBN)

U.S. Commercial-Property Deals Hit a Record High Last Year
(DBN)

The homeownership gap between Black and white Americans hasn't been this wide in 100 years
(DBN)

The City Where People Cannot Afford to Rent a Place to Live
(DBN)

U.S. Mortgage Rates Surge for Fourth Week as Fed Eyes Rate Hike • Mortgage rates are nearly back to pre-pandemic highs
(DBN)

Families Who Lost Their Homes In Majestic Hills Landslide Could Finally Get A Payout
(DBN)

____________

Municipalities:

Professionals Must Now Disclose Their Interests in the PR Cases
(DBN)

Puerto Rico Bankruptcy is Ending. Next Step: Grow Its Economy
(DBN)

Puerto Rico exits bankruptcy, future debt payments revised
(DBN)

Oriental CEO: ‘The stars are aligning for Puerto Rico’s economic growth’
(DBN)

Cities and states put $350 billion stimulus windfall to widely varied use
(DBN)

____________

Oil/Gas:

Baker Hughes posts Q4 profit as higher oil prices spur drilling demand • Baker Hughes Orders Surge 28% as Global Oil Demand Climbs
(DBN)

Electric vehicle "tsunami" expected as new models hit market
(DBN)

U.S. Funds for Electric Car Charging Network To Flow This Year
(DBN)

Texas went big on oil. Earthquakes followed.
(DBN)

Have You Seen 200 Million Barrels of Oil Anywhere?
(DBN)

Shell's Carbon Capture Plant Does the Opposite
(DBN)

____________

Bankruptcy Crimes:

Illinois Attorney Sentenced To Two Years In Federal Prison For Bankruptcy Fraud
(DBN)

____________

Tax:

The IRS will start using facial recognition this summer — and you'll have to send off a selfie if you want to pay your taxes online
(DBN)

____________

Asset Protection:

Why U.K. HNWI's Look To Wyoming State For Asset Protection
(DBN)

____________

Banking:

Wells Fargo says U.S. regulator has terminated 2015 consent order
(DBN)

____________

Finance:

When PPP Wasn’t Enough: Considerations for Lenders When PPP/EIDL Borrowers File for Bankruptcy
(DBN)

____________

Nursing Homes:

DOJ charges former owner of bankrupt Skyline chain with 22 tax fraud, evasion counts worth $29 million
(DBN)

____________

Receivers:

North Carolina Receiverships and the new North Carolina Commercial Receivership Act
(DBN)

____________

Utilities:

Judge blasts PG&E as ‘continuing menace’ over wildfires
(DBN)

Winter gas bill from hell: Oklahomans face paying $1.4bn over snowstorm
(DBN)

____________

Politics:

Biden approval hits new low at one year mark: AP-NORC poll
(DBN)

Five big takeaways from Biden's White House news conference
(DBN)

Ukraine president to Biden: "There are no minor incursions" • Biden clarifies any Russian movement into Ukraine 'is an invasion'
(DBN)

Mitch McConnell Comments Comparing 'African Americans' and 'Americans' Spark Outrage
(DBN)

Where Trust In Government Is Highest and Lowest
(DBN)

Manchin, Collins leading talks on overhauling election law, protecting election officials • Ossoff and Collins clash over her past support for voting rights legislation
(DBN)

Democrats didn't kill the filibuster. Republicans might.
(DBN)

GOP considers more ruthless redistricting
(DBN)

Hundreds of House districts are being redrawn. Here’s who’s winning and losing.

Fury over voting rights fight turns personal on Capitol Hill
(DBN)

‘Fight Like Hell’: Democrats Draw Lines as Biden Agenda Shrinks
(DBN) •

House GOP leaders vow to end proxy voting despite widespread use among Republicans
(DBN)

Swalwell slams House Republican for touting funding in bill she voted down
(DBN)

Trump Solicited Hedge Funds, Family Offices for $1 Billion PIPE
(DBN)

Theodore Roosevelt statue removed from outside New York’s Museum of Natural History
(DBN)

A push to ban members of Congress from trading individual stocks gains momentum
(DBN)

McConnell Backs Effort to Overhaul Electoral Vote Count Law
(DBN)

Why Texas election officials are rejecting hundreds of vote-by-mail applications
(DBN)

Plans to close all but one polling place in a rural Georgia county reverberate through a battleground state
(DBN)

____________

 
New Bankruptcy Opinions
(2 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (8 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (17 new filings today)
(DBN)

Bankruptcy Code (html) - Bankruptcy Code (pdf) • Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Jobs:

(1) • (2) • (3) •(4)• (5) • (6) • (7) • (8)
(DBN)

______________

Bankruptcy Statistics:

Analysis of bankruptcy data reveals patterns that underscore broader social, economic trends
(DBN)

______________

Subchapter V:

Confirmation DENIED: Subchapter V Trustee Challenges 1111(b) Election
(DBN)

____________

Safe Harbors:

Proposed modification of US Bankruptcy Code’s fraudulent transfer safe harbor for securities transactions could unsettle LBOs and other M&A transactions
(DBN)

____________

Bankruptcy Remoteness:

Blocking rights and the Texas wind power generation industry
(DBN)

____________

Eligibility:

“Engaged In” Eligibility Struggles: Chapter 12 And Subchapter V (In re Mongeau)
(DBN)

____________

Bankruptcy Research:

Analysis of bankruptcy data reveals patterns that underscore broader social, economic trends
(DBN)

____________

Advisors:

McKinsey to face racketeering lawsuit, after case revived in appeal
(DBN)

A&M Appoints Alfredo Bello as New Co-Head of Bank Restructuring in Europe
(DBN)

Alvarez & Marsal Announces 2022 Managing Director Promotions
(DBN)

____________

Aviation:

American Airlines sees returning to profitability in March, warns of higher costs • American Airlines Sees Early Signs of Revival in Bookings • American Airlines Loses $2 Billion
(DBN)

American Airlines flight to London forced to turn around over mask dispute • A passenger who refused to wear her mask forced a London-bound American Airlines flight to return to Miami • A passenger refused to wear a mask on a London-bound flight. The pilot turned the plane around.
(DBN)

Two men charged with crimes on airplanes flying into Dulles International
(DBN)

Global Travel Remains Subdued in Second Pandemic Year
(DBN)

Tourism Experts Fear Long Road to Recovery
(DBN)

U.S. attorney general to meet with Boeing 737 MAX crash victims' relatives
(DBN)

International airlines resume US-bound flights after 5G rollout caused confusion
(DBN)

Ryanair has 'sea change' in confidence as Omicron threat eases • Ryanair Sees Demand Snapping Back in Time for Summer Surge
(DBN)

FAA clears more planes after 5G fears
(DBN)

Flights diverted as poor weather collides with 5G rollout
(DBN)

Georgian Airways files for insolvency, put up for sale
(DBN)

____________

Student Debt:

$50 billion of student debt could be entitled to automatic cancellation in bankruptcy but borrowers may not know about it • 2.6 million student-loan borrowers could get rid of their debt by declaring bankruptcy — but major companies are blocking that
(DBN)

Biden campaigned on cancelling and reforming student debt. A year into his presidency, here's where those promises stand.
(DBN)

Navient Settles with State AG Coalition Over Alleged Unfair, Deceptive, and Abusive Student Loan Origination and Servicing Practices
(DBN)

____________

Fitness:

Peloton stock tanks on report of production halt • Peloton CEO says it’s taking ‘significant corrective actions,’ puts 2Q revenue in forecast range
(DBN)

____________

Fraud:

Hollywood Producer Who Scammed BlackRock Fund Pleads Guilty
(DBN)

____________

Agribusiness:

John Deere Is Facing a Farmer Revolt
(DBN)

___________

Sovereigns:

The IMF should suspend interest rate surcharges on debt-burdened countries
(DBN)

____________

UK:

Valuations: A UK perspective
(DBN)

Is Buy Now, Pay Later creating a new debt crisis?
(DBN)

U.K.’s High Gas Prices to Hurt Consumers All Year, Industry Group Says
(DBN)

____________

EU:

Europe considers new COVID-19 strategy: accepting the virus
(DBN)

____________

Canada:

Canadian pandemic stimulus programs are now ending: Is (economic) gravity about to reassert itself?
(DBN)

A Canadian restaurant was closed after it accepted dog photos instead of vaccination proof
(DBN)

____________

Hong Kong:

Hong Kong Court To Adjudicate Creditor Rights Under Keepwell Deeds Despite Mainland China Insolvency Proceedings.
(DBN)

Hong Kong Court Refused To Wind Up A Foreign Company As Liquidators Would Not Have Any Power Over Offshore Subsidiaries.
(DBN)

____________

MENA:

Israel world #1 in daily COVID cases per capita; exposed schoolkids won’t quarantine
(DBN)

____________

India:

Guarantor Barred From Being A Resolution Applicant Under Section 29A(h) Of IBC If Guarantee Invoked And Insolvency Proceedings Initiated By Similarly Situated Creditors: Supreme Court Of India
(DBN)

____________

Netherlands:

Steinhoff restructuring: The Dutch suspension of payments as an excellent tool for the restructuring of mass litigation claims
(DBN)

____________

France:

Omicron dampens business climate in France
(DBN)

France eases work-from-home directive from February onwards • France to Relax Covid Rules in Bet Omicron Is Peaking
(DBN)

____________

South Africa:

Steinhoff in South Africa: How valid is that guarantee?
(DBN)

____________

Russia:

Putin is challenging Ukraine's "right to exist," Blinken says • Blinken: Russia Risks Crisis with Global Consequences • U.S. sanctions 4 pro-Russia Ukrainians tied to destabilization efforts • Harris warns Russia in testy interview with Guthrie • Biden: Putin ‘has no misunderstanding’ about consequences of Ukraine invasion • Biden issues new warning to Russia over invading Ukraine • U.S., European officials hold crisis talks as Ukraine standoff intensifies • How far would the United States go to back Ukraine?
(DBN)

____________

China:

Evergrande creditors raise threat of action over default
(DBN)

____________

Mexico:

Mexico Covid Cases Rise by Record That Doubles Previous Wave
(DBN)

Economists See Increasing Signs Mexico’s Economy Is in Recession
(DBN)

____________

Australia:

Australia’s Covid-Zero Stronghold Delays Reopening on Omicron
(DBN)

____________

Germany:

German Shareholding as a Service: An opportunity for deconsolidation of non-core assets through involvement of a professional restructuring shareholder
(DBN)

____________

Singapore:

Singapore Court Provides Guidance on the Conduct of a Debtor's Bankruptcy Application
(DBN)

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