December 1, 2023

The Daily Bankruptcy News

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Law:

Associate pay hikes gather steam after Cravath announcement; which law firms have matched? Richest Law Firm In The World Announces Associate Raises Another Top 50 Biglaw Firm Shows It's At The Top Of The Associate Compensation Heap Oh My My, Another Biglaw Firm Announces Raises Compensation Is Like A Box Of Chocolates At Top 40 Firm Elite Boutique Proves Big Money Isn't Just For Biglaw
(DBN)

Norton's Salary Increases Are Missing Something Very Important
(DBN)

Is Your Biglaw Firm 'Ill-Positioned' To Match Cravath's Salary Raises?
(DBN)

The New Mantra For Lawyers: Don’t Rely On AI
(DBN)

Foley Pulls Associate Job Offer Over Israel-Palestine Comments
(DBN)

Chris Pettit’s victims, bankruptcy trustee set to duke it out over litigation against five banks
(DBN)

Minority law school applicants lean on personal statements post-Harvard decision
(DBN)

Golden Gate Law Will Not Be Handing Out Any More JDs
(DBN)

Miss Manners has this suggestion for responding to lawyer insults
(DBN)

This Biglaw Firm Is Mastering Twitter
(DBN)

Lawyer’s Pringles poop prank in parking lot of victims advocacy center leads to suspension
(DBN)

2023 ‘Profile of the Legal Profession’ report spotlights the scarcity of legal aid lawyers
(DBN)

Ex-Goldman Analyst and His City Lawyer Brother Accused of Insider Dealing
(DBN)

ABA withdraws 2 online statements on Israel-Hamas war
(DBN)

Lawyer fined for giving court a Nazi salute
(DBN)

Lawsuit: Trump attorney pretended to be friends with victim to quash harassment claims
(DBN)

New York appeals court reinstates gag order against Donald Trump in civil fraud trial Judges to Trump: Pipe back down NY Gag Order Back In Effect As Trump Moves On To Targeting Judge's Family Trump targets wife of New York judge overseeing civil fraud trial Trump's Claims About Judge's Wife are Untrue
(DBN)

GOP congressman’s texts reveal details about efforts to overturn Trump’s loss in 2020
(DBN)

Judge lambasts mother, son for roles in Jan. 6 riot and helping steal Pelosi's laptop
(DBN)

'Game over': Expert says Trump attorney just landed a 'bullseye for prosecutors' Surprise! Trump Lawyers Told Him That Docs Subpoena Was NOT Optional
(DBN)

Trump didn't tell court monitor about $40 million in transfers: Report
(DBN)

Former N.J. Trump golf club worker says she was sexually harassed, forced into signing NDA
(DBN)

Hunter Biden’s public hearing request creates GOP divisions Burchett backs Hunter Biden public hearing: ‘I don’t care if he wants to sit in the bathtub and do it’
(DBN)

Trump-boosted conspiracist guilty of assaulting FBI agent investigating him for sex crimes
(DBN)

Watchdog launches probe into FBI headquarters selection process
(DBN)

Judge denies Texas’ request to stop feds from cutting border razor wire
(DBN)

Las Vegas man indicted over threats to Jewish senator
(DBN)

Girlfriend of Uvalde school shooter jailed, charged with threatening community
(DBN)

Woman who mouthed 'save me' to police rescued from kidnapper with 'medical emergency'
(DBN)

Open-line 911 call allegedly recorded son killing father: Cops
(DBN)

Woman stole $800 worth of Barbie toys from WALMART, led officers on 100+ mph chase
(DBN)

Mistrial after prosecutors failed to redact how alleged murderer did on polygraph test
(DBN)

Manchin makes his border pitch: Expand worker visas, don't get hung up on parole
(DBN)

Violent Crime Is Down. Here’s Why More People Feel Victimized.
(DBN)

Americans increasingly believe the death penalty is applied unfairly, report says
(DBN)

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Judges:

Senate Democrats authorize subpoenas for Leonard Leo and Harlan Crow in Supreme Court ethics probe Senate tensions erupt over hotly disputed subpoena vote of Clarence Thomas associates Senate GOP stages hearing walkout to protest Supreme Court-related subpoenas Justice Thomas' billionaire friend, Federalist Society co-chair subpoenaed in ethics probe
(DBN)

Sam Alito Hates Everyone He Works With So Much He's Letting It Slip Subconsciously
(DBN)

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Wall Street:

Stock Index Futures Tread Water Ahead of Powell Comments, U.S. PMI Data in Focus
(DBN)

Dow jumps more than 400 points to new 2023 high as it wraps up big November rally Dow jumps 500 points to new 2023 high Thursday, capping 8% November rally: Live updates
(DBN)

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Climate:

Study warns about climate change misinformation during extreme weather
(DBN)

4 in 5 people around the world support ‘whatever it takes’ to limit climate change
(DBN)

Climate aid fund established on first day of COP28 after 30-year controversy
(DBN)

The oil baron running the climate talks — and the US envoy who’s had his back
(DBN)

Rift Over Fossil Fuels to Dominate COP28 Future of Fossil Fuels Being Decided in Dubai
(DBN)

UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock, Brookfield
(DBN)

Global deal to phase out fossil fuels is in trouble
(DBN)

Eye-catching climate donations put spotlight on China at COP climate talks
(DBN)

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Tech:

Elon Musk faces sales staff exodus after chaotic month and daring advertisers to pull their spending Elon Musk still didn't answer the biggest question about X X CEO Linda Yaccarino addresses Musk telling advertisers to 'go f--- yourself' X staring at potential second round of advertiser exodus after Elon Musk's rant Advertisers Say They Do Not Plan to Return to X After Musk’s Comments The end of Elon Musk Can Elon Musk stop X going to the wall after tirade at advertisers?
(DBN)

Nvidia CEO is worried his trillion dollar company might go bust overnight
(DBN)

Meta shuts down thousands of fake Facebook accounts spreading polarizing political content
(DBN)

What the Sports Illustrated AI debacle is telling us
(DBN)

Sam Altman really, really doesn't want to talk about why he was fired
(DBN)

The Year ChatGPT Changed Almost Everything
(DBN)

Federal judge blocks Montana’s TikTok ban, which would have been the first of its kind
(DBN)

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Trucking:

Behind the last-ditch effort to save a trucking company that owes $700M to taxpayers
(DBN)

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Water:

EPA unveils plan to replace all lead water pipes within 10 years
(DBN)

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Healthcare:

Now Massachusetts follows county in Ohio and says it's being hit by wave of 'white lung' pneumonia in children - after China and Europe saw surge in cases and hospitalizations Surge in ‘white lung syndrome’ after China is ordered to release more data Expert warns Europe to prepare for worst-case scenario over China outbreak China pneumonia warning: Taiwan urges citizens to avoid travel as virus cases spike in US The European cities ‘most likely to be hit hardest’ by China’s mystery ‘pneumonia’ outbreak Switzerland, Sweden, Denmark see surge in 'white lung syndrome'
(DBN)

Paxton Sues Pfizer for Not Ending Covid Sooner
(DBN)

Bankruptcy judge approves radiology provider Akumin’s plan to go private under new ownership
(DBN)

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Cruise Lines:

Life at Sea’s 3-year cruise canceled weeks before scheduled date
(DBN)

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Sports:

Scripps Sports Exec: Teams Are Making Contingency Deals For After Bally Sports Bankruptcy
(DBN)

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Economy:

Weekly Initial Unemployment Claims Increase to 218,000
(DBN)

Corporate profits popped in Q3, just shy of all-time peak
(DBN)

US Economy Slowed in Recent Weeks With Inflation, Labor Cooling
(DBN)

Yellen Says Soft Landing Looks Good, Unemployment May Level Off
(DBN)

Fed’s Williams Expects Policy to Stay Restrictive for Some Time
(DBN)

Fed’s Daly Says Rates in ‘Very Good Place,’ Not Considering Cuts
(DBN)

Personal Income increased 0.2% in October; Spending increased 0.2%
(DBN)

The economy is flashing a worrying signal that hasn't been seen since right before the 2008 crisis
(DBN)

New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
(DBN)

America’s undying empire: why the decline of US power has been greatly exaggerated
(DBN)

A $16 McDonald's meal shows how the economy will be the battleground for the 2024 presidential election
(DBN)

Red Lobster's $20 promotion backfired, signaling how desperate diners are for cheap deals
(DBN)

They Charge $6 to Clean Your Shirt. They Make 13 Cents On It.
(DBN)

Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
(DBN)

Inflation is starting to look normal
(DBN)

Fed’s go-to inflation gauge shows slowing price hikes
(DBN)

Young and low-income Americans experience inflation at higher rates
(DBN)

Inside the Biden White House's aggressive back-to-office push
(DBN)

Return to office is ‘dead,’ Stanford economist says. Here’s why
(DBN)

Employers’ return-to-office schemes may come with legal pitfalls
(DBN)

Record-shattering 1,380 businesses take part in annual corporate equality index
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

The Housing Bubble and Consumer Bankruptcy (Parts III and IV)
(DBN)

Firmspace shutters Chicago co-working, leaves tenants scrambling
(DBN)

From affordability to property demand, here are Zillow's 6 biggest predictions for the US housing market in 2024
(DBN)

Freddie Mac House Price Index Increased in October to New High; Up 6.0% Year-over-year
(DBN)

Mortgage Rates in US Decline to 7.22%, Falling for Fifth Week
(DBN)

NAR: Pending Home Sales Decrease 1.5% in October; Down 8.5% Year-over-year; Lowest Number of Record Pending home sales drop to a record low, exceeding the decline seen during the 2008 housing collapse
(DBN)

PCE Measure of Shelter Slows to 6.9% YoY in October
(DBN)

How real estate agents get paid at issue in high-stakes Georgia lawsuit
(DBN)

Housing market thaws as new listings jump by the most in over 2 years and mortgage payments drop
(DBN)

I'm a millennial who left Florida. Between the unbearable heat and the polarizing political climate, 'everything was making me think I should jump out of this.'
(DBN)

NYC Realtors Are Grappling Over Who Will Pay Their Commissions
(DBN)

'Most fun I've had in a while': Man allegedly crashed into home in dispute over selling it
(DBN)

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Municipalities:

Puerto Rico deserves statehood now
(DBN)

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Oil/Gas:

Oil prices could shoot up to $100 a barrel amid a barrage of supply disruption risks in 2024, Goldman Sachs says
(DBN)

OPEC+ Agrees on Deeper Output Cuts to Avoid Renewed Surplus
(DBN)

Angola Rejects OPEC Quota and Plans to Break It, Governor Says
(DBN)

U.S. crude declines as skepticism mounts over OPEC+ cuts
(DBN)

Russia Takes Over Iraq's Biggest Oil Find in Decades
(DBN)

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Politics:

Santos: Expulsion vote is ‘bullying’ George Santos introduces expulsion resolution in potential final act in Congress Democrats won’t bail out Santos this time around, sending grim sign about fate in House Santos vows to start ratting colleagues out to House Ethics Committee
(DBN)

Kari Lake's goose is cooked (again) as a judge tells her to move on from fairy tales
(DBN)

Biden campaign prepares legal fight against election deepfakes
(DBN)

The Bogus Historians Who Teach Evangelicals They Live in a Theocracy
(DBN)

Newsom Roasts DeSantis During Debate: ’Neither of Us Will Be the Nominee’ Rumble In The Fox Den: Sean Hannity’s Newsom Vs. DeSantis Debate Proves A Wasted Opportunity Republican DeSantis, Democrat Newsom clash in acrimonious debate DeSantis and Newsom lob insults and talk some policy in a faceoff between two White House aspirants
(DBN)

‘Joe Biden is your best friend, until he isn’t’
(DBN)

Kevin McCarthy; Matt Gaetz Belongs in Jail
(DBN)

Pressure grows on Tuberville to find way around getting rolled by GOP
(DBN)

Trump widens lead over DeSantis in new national poll
(DBN)

Haley gains momentum in bid to be GOP’s Trump alternative
(DBN)

The 543-word editorial that may have just upended the presidential campaign
(DBN)

'Too stupid to know that was a lie': MSNBC's Lawrence O'Donnell shreds Trump's attack
(DBN)

Most Americans support cease-fires in Middle East, Ukraine wars: Poll
(DBN)

McCarthy cursed Trump during call after ouster as Speaker: Report
(DBN)

Defense bill, passed 62 years in a row, faces partisan minefields in Senate, House
(DBN)

Speaker Johnson singed by a blast of conservative fury
(DBN)

GOP: Mail-in Voting Is Killing Us
(DBN)

Rand Paul uses Heimlich maneuver to save choking colleague at Senate lunch
(DBN)

Florida GOP chair accused of sex battery by alleged menage a trois lover
(DBN)

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Coal:

West Virginians Could Get Stuck Cleaning Up the Coal Industry’s Messes
(DBN)

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Maritime:

The World’s Key Canal Is Clogged Up. Winter Fuel Prices Could Get Wacky.
(DBN)

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Autos:

Tesla Cybertruck 50% Higher Than Promised
(DBN)

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Tourism:

Las Vegas October 2023: Visitor Traffic Down Slightly YoY; Convention Traffic Up 2%
(DBN)

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Crypto:

Celsius Network faces roadblocks in pivot to bitcoin mining Celsius faces hurdle as judge hints at new vote for Bitcoin mining shift
(DBN)

FTX Moves to Eliminate $24 Billion Tax Claims in Bankruptcy
(DBN)

Ontario's Crypto King still jet-setting to U.K., Miami, and soon Australia despite bankruptcy
(DBN)

Cristiano Ronaldo slammed with $1 billion lawsuit for promoting Binance NFTs
(DBN)

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New Bankruptcy Opinions
(6 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Adversary Proceeding Filings (24 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

2023 Was Bad for Startups With Bankruptcies, Lower Valuations Startups weather a dismal year during which 543 have already declared bankruptcy or shut down: ‘You can’t sugar coat it’
(DBN)

Bankruptcy Filings Ticked Upward This Year, and Lawyers Are Expecting a Busy 2024
(DBN)

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Mass Torts:

A $6 Billion Settlement Threatens to Upend US Bankruptcy Deals
(DBN)

Against Bankruptcy : Public Litigation Values versus the Endless Quest for Global Peace in Mass Litigation
(DBN)

Purdue Opioid Settlement On Hold While New Issues Emerge with Opioid Disorder Drug
(DBN)

The Supreme Court may toss out Purdue Pharma’s bankruptcy settlement - The deal is a case study in unsavoury trade-offs
(DBN)

Bankruptcy court stacks odds in New Orleans church’s favor over abuse claims: ‘I’ve never felt so powerless’
(DBN)

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Bankruptcy Policy:

Morally Bankrupt: Bankruptcy Law, Corporate Responsibility, and Sexual Misconduct
(DBN)

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Third Party Releases:

A Revised Perspective on Non-Debtor Releases
(DBN)

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D&O:

Bed Bath & Beyond, Bankruptcy, and Fiduciary Litigation
(DBN)

The Ins and Outs of D&O Indemnification Agreements
(DBN)

The Q3 2023 Commercial Insurance Market: Social Inflation, Cyber Threats, and D&O Surprises
(DBN)

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Bankruptcy Strategy:

The Beauty of Belk
(DBN)

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Settlements:

Delaware Bankruptcy Court Strikes Down Global Rockport Settlement
(DBN)

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Consumer Finance:

Grand Theft Auto 2.0: Bankruptcy Courts Allow Auto Title Lenders to Ride Off in Consumer Debtors' Vehicles and Rip Off the Cash Payout Owed to Unsecured Creditors
(DBN)

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Aviation:

Go First CEO: Go First CEO Kaushik Khona quits
(DBN)

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Education:

Judge Questions Texas' New School Book Law
(DBN)

Teachers: We Can't Afford to Work in Florida
(DBN)

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Utilities:

Hurdles cleared in PREPA bankruptcy case
(DBN)

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Labor:

UAW's historic strike costs automakers billions
(DBN)

Starbucks Is Making It Easier for Overwhelmed Stores to Pause Mobile Ordering
(DBN)

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Autos:

The country's electric car hotspots, mapped
(DBN)

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Transit:

NYC congestion pricing draft shows costly commute, especially for New Jersey drivers Congestion Pricing Is Coming. Its Opponents Are Still Furious.
(DBN)

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UK:

Director Administration Appointments: Does the Company Really Need a Moratorium?
(DBN)

Why is Nottingham City Council effectively bankrupt, and what does Section 114 mean? Major British city declares bankruptcy as inflation and growing social care costs blow a $29 million hole in its budget What Nottingham City Council bankruptcy crisis could mean for key Broad Marsh development 'Bankrupt' Nottingham City Council admits past failures hit reserves The people of Nottingham deserve better than this City Council - they're the real victims in this fiasco Nottingham City Council bankruptcy: People blast 'incompetent' authority and demand someone is held accountable Nottingham City Council bankruptcy will lead to cuts and Robin Hood Energy did play a part, new letter reveals Nottingham City Council has 'let us down' over bankruptcy, residents say Nottingham City Council bankruptcy: David Mellen says 'it's not about my job' as he's asked if he'll stand down
(DBN)

Council warned bankruptcy would be 'horrendous, bloody, and draconian'
(DBN)

Minimum wage rise adds £4.4m to Derbyshire council budget shortfall
(DBN)

Luxor Capital Group acquires bankrupt Volta Trucks: What's next?
(DBN)

Palace considers legal action after Piers Morgan names ‘royal racists’ Kate Middleton and King Charles?
(DBN)

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EU:

Euro-Zone Crisis Doom Loop Revisited by S&P in Warning for 2024
(DBN)

Goldman Says ECB to Cut Interest Rates Sooner Than Expected
(DBN)

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MENA:

How the latest truce extension went to the wire Hamas releases 2 more hostages Released Palestinians allege abuse in Israeli jails
(DBN)

Israel knew Hamas’ attack plan more than a year ago
(DBN)

Blinken warns Israeli officials global pressure will grow longer war goes on Blinken Visits Israel, Presses Leaders to Obey International Law
(DBN)

Israel Resumes War Against Hamas in Gaza After Week-Long Truce Israeli warplanes hit targets in Gaza as weeklong truce expires Nearly 100,000 Gaza buildings may be damaged, satellite images show Israel Plans to Kill Hamas Leaders Around the World After War
(DBN)

Ex-CIA head Michael Hayden: 'No difference at all' between gun-toting Christian, Hamas suicide bomber
(DBN)

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Russia:

Hungary won’t support ‘premature proposal’ to admit Ukraine into EU, official says
(DBN)

Ukraine Behind Rail Explosion in Russian Far East, Official Says
(DBN)

EU Aims to Unveil Plan to Tap Frozen Russian Assets Amid Doubts
(DBN)

Russia's Supreme Court bans LGBTQ activism
(DBN)

____________

China:

Evergrande creditor group backs the Chinese developer’s efforts to keep onshore unit operational, opposes bankruptcy process
(DBN)

China consumption shows ‘no sign’ of a strong V-shaped recovery, McKinsey says
(DBN)

Move aside, China. India will drive Asia’s growth in the next few years, S&P Global says
(DBN)

____________

Germany:

How will Signa's insolvency affect Germany?
(DBN)

German far-right AfD politician to stand trial over using Nazi slogan
(DBN)

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Singapore:

Interpreting the UNCITRAL Model Law on Cross-Border Insolvency: Singapore courts adopt a uniform, consistent and expansive approach
(DBN)

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India:

Realtors unlikely to get greater shelter under insolvency
(DBN)


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