April 26, 2024

The Daily Bankruptcy News

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Law:

The Top Law Schools For Getting Jobs (2023)
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Biglaw Firm Adjusts Bonus Policy To Hand Out Big Bucks -- But Only To Its Biggest Billers
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Lawyer suspended after he’s accused of plying teens with alcohol
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Skeptical of Sacks Weston's Survival, Judge Dismisses Firm's Chapter 11 Petition
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Quinn Emanuel Battles Former Allies in Jane Street Options Case
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5 Reasons Why Law Students Chose Their Law School
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Paul Weiss Houston Launch Stalled as Top Rival Partners Stay Put
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These law schools dominated the federal clerk hiring market in 2023
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Partner's leaving speech 'cost millions' as thousands of staff ordered to stop and watch
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Lawyer disbarred for destroying his computer, altering metadata before ethics hearing Lawyer Facing Ethics Probe Decides Maybe Destroying His Computer Will Help. It Does Not.
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Biglaw Leader Thinks Using AI Will Help His Firm Beat The Competition In The Market
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Lawyer's mayoral hopes knocked as misogynistic podcast emerges
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Defrauded law firm claws back £9m from insurer
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Mapped: Where noncompete agreements are banned or restricted FTC Faces Immediate Backlash For Getting Rid of Non-Compete Clauses
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1st Circuit allows suit by fired worker who refused to remove Black Lives Matter face mask
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Trump attorney sharply upbraided by judge after jury goes home in hush-money trial Ex-National Enquirer boss questioned about Stormy Daniels Trump trial: David Pecker says he declined to pay for Stormy Daniels affair story Trump lawyer on hush money case: ‘I don’t have hopes really that high’ Pecker Continues to Throw Trump Under the Bus Tabloid head wanted to 'protect' Trump from salacious stories Pecker at hush money trial says Trump feared trysts would hurt image, but didn’t mention Melania Ex-tabloid boss reveals how much he spent buying and killing stories about Schwarzenegger, Tiger Woods at hush money trial Tabloid publisher says he wrangled with Trump over who should buy sex stories Ex-tabloid publisher testifies at Trump trial about turning the tables on Michael Cohen Key prosecution witness in Trump trial to face grilling from former president's lawyers David Pecker gave prosecutors just what they were looking for in Trump hush money testimony What It’s Really Like Inside Trump’s Trial
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‘What prevents the president from just doing whatever he wants?’: Justice Jackson grills Trump attorney Supreme Court might not give Trump sweeping immunity — but it's likely to give him the one victory he wants SCOTUS probes assassinations and coups in Trump immunity hearing At Supreme Court, Trump lawyer backs away from absolute immunity argument Takeaways from the Supreme Court argument on Trump’s criminal immunity Justice Ketanji Brown Jackson warns of the Oval Office turning into a 'crime center' if Trump gets the sweeping immunity he wants Trump’s Lawyer Tries to Convince a Stunned Sotomayor: President Has Immunity to Order Assassinations of Rivals Elena Kagan stuns Trump attorney by asking if president could stage a coup Justices seem skeptical of Trump immunity claim, but may delay trial Alito complains 'special' Trump shouldn't be 'subject to criminal laws like anybody else' What we learned from Trump’s surprisingly good day at the Supreme Court Trump's three US Supreme Court appointees thrash out immunity claim Justice Jackson suggests Trump claims risk turning Oval Office into ‘seat of criminality’ 'Insane': Trump lawyer's SCOTUS argument leaves legal experts amazed Donald Trump had a fantastic day in the Supreme Court today Trump could get partial victory after Supreme Court hears immunity case Supreme Court to decide Trump's fate — and its own Supreme Court That Blocked Vaccine Mandates & Quarantine Orders Suddenly Very Concerned About Immunity. At US Supreme Court, clashing views presented on presidential immunity McConnell argues against absolute presidential immunity Justices Broach President’s Self-Pardon Power at Trump Argument Trump lawyer just handed Justice Barrett a reason to side with Jack Smith After Gorsuch dreads day a president issues self-pardon, Alito presses DOJ for an answer Justice Jackson on Trump immunity: 'What was up with the pardon of President Nixon?' Trump nears huge win on delay, delay strategy
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Trump demands Jack Smith turn over 'functional video' of FBI's Mar-a-Lago raid
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Jan. 6 rioter who assaulted cops with metal whip has sentencing go haywire Ex-Navy interpreter once commended for service sentenced to prison for Jan. 6 cop assault Jan. 6 rioter who sought to 'incite violence' by Trump supporters set to be sentenced
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'The Signing' comes back to haunt Arizona fake electors, close Trump allies in indictment
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Giuliani, Eastman, Ellis, Bobb Indicted In Arizona—Here Are All The Former President’s Lawyers Now Facing Consequences
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Federal judge upholds verdict in E. Jean Carroll case and denies Trump’s motion for a new trial
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Harvey Weinstein rape conviction overturned by N.Y. Court of Appeals 'Egregious errors': Deeply divided high court overturns Harvey Weinstein rape conviction ‘Hindsight Is 20/20’: Why Harvey Weinstein’s Conviction Was Overturned Conviction Overturned by Panel of Female Judges A Timeline of Weinstein’s New York Case Harvey Weinstein’s Conviction Was Fragile From the Start Could face re-trial Weinstein to use NY ruling to boost his appeal in California conviction: lawyer The rise and fall of movie maker Harvey Weinstein
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Bill that would fine parents for kids’ crimes passes Tennessee legislature
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Police Dog Ordered To Attack An Unarmed Black Man For Minor Traffic Violation - In Front Of His 9-Year-Old Son
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Immigration advocates see work permits as Biden’s best option America warms to mass deportations San Diego is now the top border region for migrant arrivals
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Ex-athletic director framed principal with AI-generated voice, police say
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She Only Served 10 Months Behind Bars. Florida Still Slapped Her With A $127,000 Bill.
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Bodycam video shows handcuffed man telling Ohio officers 'I can't breathe' before his death
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Judges:

‘Oh, shoot, I’m still streaming,’ judge says, after telling staffer ‘we all know’ murder defendant is guilty
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Alito reignites fetal rights debate in Idaho abortion case
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The Supreme Court Used To Do Its Job A Lot Faster
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Tackle backlog with pop-up pub courts, suggests former appeal judge
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Wall Street:

S&P 500 futures pop in overnight trading, boosted by Alphabet and Microsoft
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Dow sinks 550 points after GDP report Dow drops more than 400 points on inflation and growth concerns, Meta drags S&P 500 lower
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Layoffs:

 

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Student Debt:

A key deadline for student loan forgiveness is just days away
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Upsolve Launches Tool To Help Pro Se Bankruptcy Filers Get Relief from Student Loans
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Autos:

Fisker tells employees that 4 automakers are in talks to buy the struggling startup
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Honda to build $11 billion electric vehicle hub in Canada
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Hertz is done gambling with EVs: It took a first-quarter $195 million hit on Teslas that just keep losing value and can’t sell them fast enough
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Climate:

Pope Francis uses first ever US TV interview to slam climate change deniers as 'fools' and insists 'climate change exists'
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Retailing:

Craft retailer Joann approved to exit bankruptcy, slash $505 mln debt
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'The bane of retail.' To prevent theft, many big chains now lock up all kinds of merchandise
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Crypto:

Pantera Capital wins another bid for discounted Solana tokens in FTX bankruptcy auction
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Coal:

Coal’s future dims as new regulations pile on and former defenders retreat
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Economy:

BEA: Real GDP increased at 1.6% Annualized Rate in Q1 US economic growth falls short of expectations with 1.6 percent annualized gain The good and bad inside the worse-than-expected GDP report 10-year Treasury yield leaps to highest level in more than 5 months after GDP report U.S. economic growth slows as consumers tighten their belts
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Slowing growth plus stubborn inflation add up to a headache for Fed officials
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High inflation could be here to stay as commodity prices spike again after a 2-year decline, World Bank says
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The US economy may be barrelling towards stagflation, an outcome worse than recession
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The Dream of Fed Rate Cuts Is Slipping Away - WSJ
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Jamie Dimon says the US has less than 50% odds of nailing a soft landing: 'Don't get lulled into a false sense of security'
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The US is dealing with a rare bifurcation of the economy, and it's raising the odds of recession, Piper Sandler chief economist says
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Mix of Slowing Growth, Firm Inflation Worries Investors
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Baby boomers are approaching 'peak burden' on the economy
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New deep-water channel allows first ship to pass Key bridge wreckage in Baltimore
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Weekly Initial Unemployment Claims Decrease to 207,000
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Meet a Gen X ALICE in Michigan who struggles to pay for prescriptions and can only afford one meal a day: ‘I make too much to get help.’
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U.S. Births decreased in 2023 U.S. Fertility Rate Falls to Record Low Lowest in a Century Births dropped in 2023, ending pandemic baby boom
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'Americans just work harder' than Europeans, said the CEO of Norway's $1.6 trillion oil fund
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CEOs are quitting at record rates, and women are twice as likely as men to leave
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World's billionaires should pay minimum 2% wealth tax, say G20 ministers
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A $1 million wealth gap now divides white families from Black and Hispanic ones, research shows
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Tractor Supply CEO says there’s still ‘significant migration’ out of urban areas
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Giant cargo ships were Baltimore port’s financial salvation and its curse
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US Debt Clock
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World Debt Clock
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Real Estate:

The cost of buying a home has hit an all-time high
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NAR: Pending Home Sales Increase 3.4% in March; Up 0.1% Year-over-year
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Plunging Home Prices, Fleeing Companies: Austin’s Glow Is Fading
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A woman moved to Florida after her home burned in the Lahaina fires, and the cheapest Maui rental she could find was $10,000 a month
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Austria's insolvent Signa sells Venice's Hotel Bauer to German group
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Municipalities:

Visitors are returning to most — but not all — of America's downtowns
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'Urban camping' in this Montana city has spiked 200% as priced-out locals move into cars and RVs
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Politics:

Biden gains on Trump in series of polls Biden's happy polling surprise Trump tops Biden by 2 points in new Florida poll
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Trump's criminal charges, Biden's age rank as voters' top worries about the candidates
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The Most Feared and Least Known Political Operative in America
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He Worked for the Nastiest People in Politics. Now He’s Airing Dirty Laundry.
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Secret Service agent removed from Harris’s security detail after ‘distressing’ behavior
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Trump mocks Barr after endorsement, says he will remove ‘lethargic’ label
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Trump gets handed a lot more Truth Social stock
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These people were charged with interfering in the 2020 election. Some are still in politics today
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GOP lawmakers cheer conservative media slams on Marjorie Taylor Greene
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Biden's strategy to win back progressives could be working
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DeSantis: Florida ‘will not comply’ with new Biden Title IX rules
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Utilities:

Battery storage costs could fall up to 40 percent by 2030: IEA
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EPA moves to curb power plant CO2 in landmark move
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Tech:

Meta tumbles 11% on weak revenue forecast and Zuckerberg’s comments on spending Mark Zuckerberg’s net worth plummets by more than $18 billion in Meta stock drop
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Working professionals increasingly support the use of AI tools
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The man who audited Trump's social media company misspelled his own name in 14 different ways
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ByteDance prefers TikTok shutdown in US if legal options fail, sources say TikTok and the U.S. government dig in for legal war
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CEOs make the message clear on AI's big payoff: Be patient
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Microsoft says cloud AI demand is exceeding supply even after 79% surge in capital spending
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Private Equity:

Private equity’s latest trade: The financial futures of millions of retirees
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Healthcare:

Why Idaho’s hospitals are having pregnant patients airlifted out of state
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Trump Says Roe’s Demise ‘Working Out Very Well’
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How treatment of miscarriages is upending the abortion debate
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Providence Ordered to Pay $200M For ‘Systemic Wage Violations’
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Bird flu could jump to humans any day. A former surgeon general says it feels like 2020 again.
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Tennessee lawmakers OK bill penalizing adults who help minors receive gender-affirming care
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Food/Beverage:

Red Lobster suppliers left in the lurch Red Lobster seeks a buyer as it looks to avoid bankruptcy filing Endless Shrimp May Have Financially Sunk Red Lobster
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Sticky’s Finger Joint Files for Bankruptcy Sticky's Finger Joint declares bankruptcy
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Media:

The Gateway Pundit says ‘attacks coming from all sides’ led to bankruptcy Courts Must Not Let Gateway Pundit Use Bankruptcy to Escape Accountability
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‘Santa Barbara News-Press’ Bankruptcy Limps Along
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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (18 new filings today)
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Recent Ch. 11/9/12/15 Adversary Proceeding Filings (7 new filings today)
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Chapter 11 Bankruptcy Case Studies
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Bankruptcy Statistics:

Bankruptcies Rise 16 Percent Over Previous Year
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A disturbing trend for venture- and PE-backed companies: bankruptcy
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LLCs:

Conflict Between Delaware LLC Act and Bankruptcy Code Affects Creditor Toolbox
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Mass Torts:

McKinsey advised drug companies on how to 'turbocharge' opioid sales. Now it's under criminal investigation.
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‘Ripping the heart out of the community’: Catholics plead to keep churches open Parishioners offer mixed feelings over Archdiocese of Baltimore's plan to consolidate churches
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Roughly 1,000 people attend Archdiocese of Baltimore public hearing
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Bankruptcy Crimes:

Minnesota Businessman Sentenced for Tax Evasion By Filing False Bankruptcy Schedules
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Litigation Finance:

How the big business of lawsuits could be harming our national security
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Bankruptcy Strategy:

Armstrong Flooring Bankruptcy: The Alchemy of Creating Value from Accounts Receivable
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Aviation:

Open seating no more? Southwest CEO says airline is weighing cabin changes
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It isn't just Boeing that's bleeding billions — major US airlines are hemorrhaging cash too
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India court allows request by Go First lessors for aircraft deregistration
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Celebs:

Personal bankruptcy ended: Boris Becker can breathe a sigh of relief
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Katie Price is facing threat of arrest for dodging High Court hearing where she was due to give evidence after being declared bankrupt for a second time
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Education:

The Republicans Who Want American Carnage Republicans escalate calls for troops on campus
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Senate candidate Steve Garvey calls student protesters ‘terrorists’
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Anti-Israel protesters set up ‘intifada’ tent camp at state-funded NYC college
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Arrests at Universities Pile Up as Pro-Palestinian Protests Spread In photos: Hundreds arrested as pro-Palestinian college protests intensify University protests over Israel-Hamas war in Gaza lead to hundreds of arrests on college campuses
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Texas Gov. Abbott faces backlash after mass arrest at UT Austin pro-Palestine protest Most Cases Against UT Protesters Dropped UT Faculty Holds Rally to Criticize Crackdown Did Texas Police Violate First Amendment Rights of Pro-Palestine Protesters?
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Pro-Palestinian student protests highlight lessons learned from past demonstrations
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Columbia University faces federal complaint after arresting anti-war protesters As USC cancels commencement, Columbia students worry theirs could be disrupted Republicans want Columbia’s federal funding stopped. There are at least 3 big problems.
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USC cancels ‘main stage’ graduation ceremony as campus becomes overrun by anti-Israel protests
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Israel-Palestine Barely Registers as an Issue For Young Americans In Shock Harvard Poll
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Top House progressives fight back in campus messaging wars
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Share of college students blaming Hamas for Oct. 7 attack on Israel declines in new poll
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Gay actor's speech back on at Pennsylvania school after cancellation over his 'lifestyle'
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Agribusiness:

Bird flu tests ordered for dairy cattle that cross state lines 20% of Pasteurized Milk Has Bird Flu Fragments What to know about bird flu As bird flu spreads in cows, fractured U.S. response has echoes of early covid Bird flu in milk is alarming — but not for the reason you think The ‘milk supply is safe’: Biden administration scrambles to reassure Americans as bird flu spreads
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Pharma:

Bankruptcy allowed Mallinckrodt to end Acthar royalties, 3rd Circ. rules
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UK:

Individual Insolvency Statistics, March 2024
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Company Insolvency Statistics, March 2024 Company insolvencies in England and Wales drop 17% in March
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Over half a million UK firms fighting for survival as economy stagnates, says Begbies’ Red Flag Alert’ Half-a-million UK firms ‘financially distressed’ and thousands face insolvency as they ‘pin hopes’ on rate cuts
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Construction industry insolvency pressures continue to swell
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Former Bank of England Governor: Brexiteers Destroyed Britain's Future
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Russia:

GOP critics vow no more US aid for Ukraine
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MENA:

Biden and 17 world leaders call on Hamas to release the hostages Hamas officials say group willing to disarm if Palestinian state is established
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Israel intensifies airstrikes on Gaza's Rafah before ground operation
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Israel Prepares Forces as Conflict With Hezbollah Intensifies
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Mass graves at two hospitals are the latest horrors from Gaza
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Some campuses call in police to break up pro-Palestinian demonstrations, while others wait it out
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More Americans have little, no confidence in Netanyahu: Poll
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Iran expands public crackdown on women and girls, sparking public anger
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Russia:

Ukraine foreign minister says west must boost defence as ‘era of peace is over’
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German army prepares plan to ready US troops to fight on NATO’s eastern front
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'Europe could die': Macron urges stronger defenses, economic reforms
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Ukraine is getting a new type of laser-guided bomb that can pummel 'soft' Russian targets, analyst says
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Germany takes aims at Spain and Greece for not giving Ukraine Patriot missiles
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Why This Small Ukrainian Hilltop Town Is Russia’s Next Big Target
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China:

China Warns US About Crossing Red Lines
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