October 4, 2023

The Daily Bankruptcy News

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Law:

Biglaw Firms Looking Ahead To 2024, Hoping That Deals Will Make A Roaring Comeback
(DBN)

Fried Frank's Chair Steps Down After 10 Years, Ushering In New Leaders
(DBN)

Law School Wannabes Don't Think You Should Be Able To Use ChatGPT To Get Through The Application Process
(DBN)

Self-care gap expands as female lawyers spend less time on themselves, report more burnout
(DBN)

Law Student Arrested For Beheading Fiancée
(DBN)

Life sentence sought for man convicted of selling fentanyl-laced cocaine that killed Akin Gump associate
(DBN)

Musk’s X Rebuffs Wachtell’s Bid to Arbitrate $90 Million Fee Pointing to 'Wachtell's Greed,' X Corp. Argues Law Firm Can't Force Arbitration in Fee Lawsuit World's Richest Man's Complains About Law Firm's 'Greed'
(DBN)

A Lateral Stayed at Foley & Lardner for Less Than 3 Months. Now the Firm Is Suing the Recruiter
(DBN)

Teaching An Old Lawyer New Tricks
(DBN)

Bankruptcy and litigation firm Spector & Ehrenworth joins Little Falls office of Scarinci Hollenbeck
(DBN)

BigLaw firm promotes 205 lawyers to partner
(DBN)

The predators’ playground: Unraveling 40 years of sexual misconduct at a single California high school
(DBN)

Trump isn't getting a jury in his $250 million civil fraud trial because his lawyers failed to ask for one Judge in fraud trial imposes gag order after Trump attacks judge’s aide Trump Ordered To Shut Up Or Face 30 Days Behind Bars Trump back in court for second day of New York civil fraud trial Trump says he'll testify at "appropriate time" in civil fraud trial Furious Trump tests campaign bluster at courthouse Trump: Law being used in New York fraud trial may not be constitutional
(DBN)

What's it like to be prosecuted by Jack Smith?
(DBN)

Prosecutors slam Trump's legal team for attempts to 'delay' election subversion trial
(DBN)

Court Puts The Kibosh On Trump's Claims Of Getting '80 Percent' Of Charges Dismissed
(DBN)

Donald Trump Shared Courthouse Fan Art From A Fever Dream
(DBN)

Trump Defendant: I Want This Nightmare Over Fulton prosecutors float plea deals to Trump defendants
(DBN)

Sidney Powell alleges prosecutorial misconduct in Trump RICO case
(DBN)

Hunter Biden Pleads Not Guilty to Felony Gun Charges Hunter Biden pleads not guilty to federal gun charge: A guide to understanding his latest legal woes House panel set to hear from federal prosecutor in Hunter Biden probe
(DBN)

Giuliani's Drinking, Long a Fraught Subject, Has Prosecutors' Attention
(DBN)

Kansas police chief who led raid of local newspaper office has resigned
(DBN)

Extremism on the Rise, New Report Finds
(DBN)

Lady Gaga doesn't have to pay $500,000 to woman charged in connection to stealing her dogs
(DBN)

11-year-old arrested and charged in shooting of 2 teens at Florida football practice
(DBN)

'He stabbed me!': Man allegedly kills brother with a foot-long 'pirate sword,' cops say
(DBN)

Wedding officiant accidentally shoots 12-year-old grandson with blank fired by revolver
(DBN)

Cops denied qualified immunity for arresting man who refused to show ID
(DBN)

Woman takes police on wild car, foot chase on California freeway, arrested outside Denny's
(DBN)

California mom accused of instructing son to kidnap, torture her boyfriend’s 13-year-old daughter
(DBN)

Judge orders Florida retiree extradited to Canada to face 50-year-old murder charge
(DBN)

If You Had 'DOJ Charges Senior Pentagon Official With Running Dogfighting Ring And Executing Pups With Jumper Cables' On Your Bingo Card, Then Congratulations!
(DBN)

TechScape: How police use location and search data to find suspects – and not always the right ones
(DBN)

A nationwide emergency alert test is coming to your phone on Wednesday
(DBN)

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Judges:

Conservative Groups Scored Big Supreme Court Wins. Now They're Trying to Do It Again
(DBN)

Justices drop ‘respectfully’ in some dissents, but SCOTUS rancor is tamer than in past
(DBN)

Oh, Look! Billionaires Have Their Perfect Case to Start the Supreme Court Term.
(DBN)

The Supreme Court’s uncharacteristic moment of sanity
(DBN)

Trump slams judge's law clerk during court break and ordered to remove post attacking her
(DBN)

The Care and Feeding of Supreme Court Justices
(DBN)

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Wall Street:

Stock futures are little changed after Dow turns negative for 2023
(DBN)

Dow loses more than 400 points and goes negative for 2023 as interest rates spike
(DBN)

Something is breaking in financial markets — Here’s what’s behind the sell-off
(DBN)

Wall Street Research Firm MoffettNathanson Goes Indie Again After Bankruptcy of Parent Company
(DBN)

Why Wall Street investors are freaking out
(DBN)

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Layoffs:

Ford, GM lay off about 500 more employees, citing expanded UAW strike
(DBN)

Meta to lay off employees in metaverse silicon unit on Wednesday
(DBN)

Chipotle tests automation for burrito bowls and salads
(DBN)

Chainalysis is laying off approximately 150 employees
(DBN)

______________

Labor:

Why this fight is so personal for the UAW workers on strike
(DBN)

'Clean slate.' UAW strike could push more EV investment south
(DBN)

75,000 workers will walk off the job today in the largest health care strike in US history. Here’s who is on strike
(DBN)

____________

Autos:

GM, Toyota See Big Gains in US New Car Sales, Defying Headwinds
(DBN)

US New Car Sales Still Climbing Vehicles Sales increase to 15.67 million SAAR in September; Up 15% YoY
(DBN)

Self-driving car runs over pedestrian who was hit by human driver in San Francisco
(DBN)

Second Foxconn EV customer files for bankruptcy protection
(DBN)

____________ _

Politics:

Speaker McCarthy ousted in historic House vote, as scramble begins for a Republican leader Kevin McCarthy, after ouster, says he won’t run again for speaker Matt Gaetz furiously denies moving against Kevin McCarthy for not stopping ethics investigation into him over illicit drug use, sexual misconduct and misuse of campaign funds - as he takes one final shot at ousted speaker McCarthy stoked the extremism that felled him McCarthy PACs Spent millions Supporting Members Who Ousted Him 4 takeaways from the historic ousting of House Speaker Kevin McCarthy McCarthy Was Ousted as House Speaker. What Happens Next? Trump Floated as New Speaker of the House
(DBN)

Nancy Pelosi evicted from her private office in the Capitol by interim House speaker
(DBN)

Nikki Haley Courts Wealthy Donors Like Harlan Crow to Fund Presidential Campaign
(DBN)

No Labels pleads with Democrats not to interfere after Biden comments
(DBN)

Butler sworn in to replace Feinstein, becoming third Black female senator in U.S. history
(DBN)

McCarthy’s Speakership in Jeopardy Over Democratic Demands, GOP Revolt McCarthy fails to stop push to boot him from speakership Kevin McCarthy won't get help from House Democrats Democrats don't want to be McCarthy's "cheap date" McCarthy Says He Won’t Seek a Deal With Democrats to Keep His Post "I never give up": McCarthy faces judgment day as House speaker Trump questions GOP infighting ahead of vote to oust McCarthy Kevin McCarthy may finally be out. Who might replace him as speaker? These are some possible candidates to be the next House Speaker
(DBN)

North Carolina Republicans create "secret police force"
(DBN)

Jamaal Bowman damage control roils Capitol Hill as GOP closes in
(DBN)

Cuellar on worst part of carjacking: ‘They stole my sushi!’
(DBN)

Gingrich says House GOP should expel ‘anti-Republican’ Gaetz
(DBN)

____________

Tech:

News execs lobby lawmakers on AI protections
(DBN)

Social media traffic to top news sites craters
(DBN)

Unveiling Slavery’s Legacy: US Representative Brett Guthrie’s Ancestral Links to Slavery
(DBN)

____________


Economy:

10-year Treasury yield hits 4.80%, a 16-year high
(DBN)

Banks are bracing for a recession as Treasury yields surge
(DBN)

Bond Selloff Threatens Hopes for Soft Landing
(DBN)

US Job Openings Top All Forecasts as White-Collar Positions Jump BLS: Job Openings Increased to 9.6 million in August Why you should be skeptical of that job openings number
(DBN)

How Treasury market upheaval is rippling through global markets in 4 charts
(DBN)

Fed’s Mester Says Steady Economy Leaves Chance of November Rate Hike Open
(DBN)

Bostic Says Fed Should Hold Rates High ‘For a Long Time’
(DBN)

I'm 'loud quitting' after my job's RTO mandate. I openly call out management and I'm only staying for the paycheck.
(DBN)

Republicans Lead Democrats on Economy for First Time in 32 Years, Poll Shows
(DBN)

Wealthy US Households Pulled Back on Charitable Giving in 2022
(DBN)

Donald Trump, Sam Bankman-Fried And The Snapchat Founders: Here’s Who Fell Off The 2023 Forbes 400 List Of Richest Americans
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

Popular 30-year mortgage rate races toward 8% after hitting a high not seen since late 2000
(DBN)

Mortgage demand drops to the lowest level since 1996, as interest rates head toward 8% MBA: Mortgage Applications Decreased in Weekly Survey; Purchase Apps Lowest Since 1995
(DBN)

Why 8% Mortgage Rates Aren't Crazy
(DBN)

CoreLogic: US Annual Home Price Growth Rate Increased in August
(DBN)

FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores
(DBN)

WeWork Skips Bond Interest Payments, Enters 30-Day Grace Period WeWork's Landlords: Choosing the Best of Bad Options
(DBN)

The cheesecake factor: Why these restaurants can reveal a mall's financial success
(DBN)

There’s a shortage of luxury apartments in Manhattan, and it’s driving up prices
(DBN)

SCOTUS won't hear case that would slash New York City rent control as critics claim 'unsustainable' status quo
(DBN)

 Lumber Prices Down 11% YoY
(DBN)

____________

Municipalities:

Puerto Rico Status Act Reintroduced, Aims for US Territory Recognition
(DBN)

Ice Rink’s Muni Default Risks Pushing a Missouri City Into Junk Territory
(DBN)

How a Reality-TV Show Rescued a Small Mississippi Town
(DBN)

____________

Oil/Gas:

Here comes the EV backlash Electric Vehicle Sales Double in Europe How Effective Are Electric Vehicles In Reducing Emissions?
(DBN)

California lawmakers have a plan to plug old, vapor-spewing oil wells. Could it backfire?
(DBN)

____________

Student Debt:

Student-loan borrowers struggling with repayment should not be required to pay their debt until their account issues are resolved, 19 state attorneys general say
(DBN)

Student loans for parents can be a debt trap. But there's a loophole
(DBN)

____________

History:

Think interest rates are high now? The Romans had it worse, a Bank of America chart shows.
(DBN)

____________

Corporate Reform:

Supreme Court Justices Signal Support for US Consumer Agency’s Funding System Supreme Court appears hesitant to upend Consumer Financial Protection Bureau Conservative justices look likely to save credit card company watchdog
(DBN)

____________

Bicycles:

Finnish e-bike motor startup Revonte files for bankruptcy, to sell IP
(DBN)

___________

Healthcare:

Why 6 hospitals, health systems filed for bankruptcy in September
(DBN)

Mercy Iowa City sale heads to bankruptcy auction
(DBN)

Massachusetts health system cites costly EHR transition in bankruptcy decision
(DBN)

'Restructuring historical financial obligations': Heywood Hospital files for bankruptcy
(DBN)

SmileDirectClub to Liquidate If It Can’t Quickly Find Buyer
(DBN)

These 10 Trends Are Affecting The Healthcare Economy The Most
(DBN)

America’s epidemic of chronic illness is killing us too soon
(DBN)

1 in 20 used ivermectin, hydroxychloroquine to treat COVID-19: research
(DBN)

How barring medical debt from credit scores could impact borrowers
(DBN)

____________

Apparel:

Bridal Dressmaker JLM Couture Files for Bankruptcy
(DBN)

____________

Retailing:

Beloved craft store at ‘worst’ risk of bankruptcy after layoffs and retailer says it’s ‘exploring every opportunity’
(DBN)

Bankruptcy Threatens 11 Retailers In 2023
(DBN)

____________

Fraud:

Ex-Bitwise President Refuses to Give Bankruptcy Trustee Her Laptop
(DBN)

Why Silicon Valley Falls for Frauds
(DBN)

____________

Religion:

Orthodox Jews filmed spitting at Christians in Jerusalem's Old City
(DBN)

Pope Francis scolds U.S., ‘irresponsible’ Western lifestyle in climate plea Pope opens Church meeting amid tensions with conservatives
(DBN)

____________

Crypto:

A fresh haircut and ready for court: Day one of Sam Bankman-Fried’s criminal trial Sam faces his reckoning: The key questions as crypto’s trial of the century begins The FTX Fraud Trial Begins: Differing Views on the Role of Crypto Entrepreneur Sam Bankman-Fried
(DBN)

FTX cofounder Gary Wang is set to testify against his childhood friend Sam Bankman-Fried. Here's what we know Sam Bankman-Fried’s family, Anthony Scaramucci among possible trial witnesses: prosecutor Bankman-Fried Seeks to Block Prosecutors Calling FTX Investors, Former Insiders as Witnesses
(DBN)

The Celebs Who Helped Sam Bankman-Fried—Until He Crashed
(DBN)

When SRM Shot Up in Value, Sam Bankman-Fried Changed the Rules for His Workers, Michael Lewis Says Jump Trading Lost Almost $300M in FTX’s Collapse, Michael Lewis Says in ‘Going Infinite’
(DBN)

Sam Bankman-Fried Sues His Insurer as Legal Bills Mount
(DBN)

Could Sam Bankman-Fried's Saga Happen Without Crypto?
(DBN)

Ex-Celsius CEO Mashinsky’s Fraud Trial Set for September 2024
(DBN)

Celsius Customers Question Interim CEO on Bankruptcy Repayment Plan Celsius Network in Hot Waters: Concerned Customers Seek Answers in Bankruptcy Court
(DBN)

U.S. issues detention order for alleged B.C. Ponzi schemer Greg Martel
(DBN)

There's a Lot of Thefts Happening
(DBN)

FTX Trial And Binance Turmoil Are Just The Latest Trouble For Crypto
(DBN)

____________

Tourism:

Lahaina residents deliver petition asking Hawaii governor to delay tourism reopening
(DBN)

____________

 


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 (72 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Statistics:

Year-to-Date Chapter 11 Bankruptcy Filings Increase Compared to 2022
(DBN)

______________

Mass Torts:

J&J Gets $223 Million New Jersey Talc Verdict Tossed by Appeals Court
(DBN)

J&J Unit’s Failed ‘Two-Step’ Talc Bankruptcies Cost $178 Million
(DBN)

Parishes, schools to be shielded from lawsuits in Archdiocese of Baltimore bankruptcy for now Catholic schools, parishes to pay survivors as part of Archdiocese of Baltimore bankruptcy Bankruptcy court pauses sexual abuse suits against Baltimore Catholic parishes, schools
(DBN)

Talc supplier Whittaker Clark & Daniels files for bankruptcy
(DBN)

A toxic mix: opioid victims’ $1bn hit from repeat pharma bankruptcy
(DBN)

Silencing Litigation Through Bankruptcy
(DBN)

‘They made a huge profit knowing they’d kill people’: US firms use tactics to avoid paying asbestos victims
(DBN)

Boy Scouts abuse settlement shouldn't wait on US Supreme Court's Purdue appeal - judge
(DBN)

____________

Cross-Border:

A Tale of Two Chapters – “Recognizing” the Significant Differences Between Chapter 15 and Chapter 11 Bankruptcy Cases
(DBN)

____________

Sales:

Delaware District Court Holds That Certain Federal Labor Law Successor Obligations Were Not Extinguished By A “Free and Clear” Section 363(f) Bankruptcy Sale
(DBN)

____________

UST:

Unconstitutionality of Bankruptcy Administrator Fees; A Remedies Debacle; & No Accountability For Those Responsible (U.S. Trustee v. John Q. Hammons)
(DBN)

____________

Aviation:

Fourth US Airline Finds Fake Engine Parts Used
(DBN)

SAS Undergoes Major Restructuring: New Owners, Alliance Shift, and Privatization Scandinavian Airlines SAS Rescue: Averting Bankruptcy and Overhauling Shareholders Air France-KLM Taking SAS Stake in $1.2 Billion Air France-KLM to buy almost one fifth of SAS Recapitalization Scandinavian Airline SAS Gets Rescue Deal From Castlelake-Led Investor Group SAS Stock Dives 95% as Restructuring Announced
(DBN)

Eleven Airlines Have Gone Bankrupt In Latin America Since 2020
(DBN)

Air Guyana Faces Warranty Crisis with CTG: A Detailed Analysis
(DBN)

____________

Climate:

We've Been Overlooking a Major Part of Climate Change, And It's Sending Warning Signs
(DBN)

The Dangerous Delusion Of A Global Transition To ‘Just Electricity’
(DBN)

A Florida Coral Reef Fights to Survive After Record Ocean Heat Wave
(DBN)

Nations pledge $12B to protect coral reefs
(DBN)

U.S. Midwest and East say hello to a second summer
(DBN)

Banks behind 70% jump in greenwashing incidents in 2023 -report
(DBN)

____________

Pharma:

Drugmakers agree to negotiate drug prices with government, White House says
(DBN)

____________

Celebs:

Cardi B Narrows Dispute Over Bankrupt Blogger’s Defamation Debt
(DBN)

____________

UK:

Coventry City Council faces bankruptcy without extra funding Fears Coventry could 'become the next Croydon' amid bankruptcy concerns
(DBN)

Birmingham Council urged to protect ‘priceless’ heritage amid bankruptcy crisis
(DBN)

Havering Council could be bankrupt in six months - leader
(DBN)

Financial Meltdown Looms over UK’s Hampshire County Council: A Plea for Government Intervention Hampshire’s Impending Financial Crisis: A Call for Government Intervention
(DBN)

Britain Sours on £895 Billion of Quantitative Easing as Side Effects Hit Home
(DBN)

____________

Canada:

Bank of Canada Warns of Risk Pricing Behavior Proves Sticky
(DBN)

____________

Russia:

Russian soldiers who drink and break rules get sent to punishment battalions where they are likely to die fighting, report says
(DBN)

Russian ruble sinks to level that previously triggered emergency measures from Moscow
(DBN)

Kremlin-Friendly Hungary Government Wants to Hold Back Some Ukraine Aid
(DBN)

A pro-Putin populist's success adds to fears of cracks in support for Ukraine
(DBN)

Biden Speaks With Allies to Assure Them of Ukraine Support White House warns of consequences if Ukraine aid lapses Senators fume after McCarthy jams them on Ukraine aid House braces for fight over Ukraine aid amid other funding priorities Pentagon warns of strain on Ukraine support: ‘We need Congress to act’
(DBN)

Army Ready to Deliver Long-Range Missiles for Ukraine Once Biden Approves
(DBN)

Western ammo stocks at ‘bottom of the barrel’ as Ukraine war drags on, NATO official warns
(DBN)

Ukraine seizes nearly $5.5 million in Russian defense company’s assets
(DBN)

____________

China:

How to Know When Your China Manufacturer is Going Bankrupt
(DBN)

____________

Italy:

Florence Fights Back Against Airbnb as Locals Say They’re Priced Out of City
(DBN)

____________

Haiti:

UN Security Council approves sending forces to Haiti to fight violent gangs
(DBN)

____________

Switzerland:

Bankruptcies on the rise in Switzerland
(DBN)

____________

France:

Casino shares suspended, news on debt deal expected soon
(DBN)

____________

Japan:

How to Obtain Recognition of a Foreign Insolvency Process and Enforce Insolvency-Related Judgments
(DBN)

The Bubble Bursts: Popular Japanese Bubble Tea Brand Comma Tea Declares Bankruptcy
(DBN)

____________

India:

Speed up IBC process, cut PSB stakes: OECD
(DBN)

Avoid conflicts of interest, attain highest levels of performance: MCA tells insolvency professionals
(DBN)

____________

Australia:

Australian Millennial Declares Bankruptcy, Sparks Discussion on Financial Literacy Among Young Adults
(DBN)

____________

Finland:

Value from distress: Real estate transactions with distressed companies and bankruptcy estates
(DBN)

____________

Mexico:

'They put a price on everything': extortion hits Mexican economy
(DBN)

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