June 26, 2025

The Daily Bankruptcy News

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Law:

Milbank’s Katyal, Wilson Sonsini’s McConnell Fight Trump Tariffs
(DBN)

Constitutional law prof defends legality of Trump tariffs, cites Smoot-Hawley Tariff Act
(DBN)

Summer Associates at Baker Botts Learn How to Use AI on the Job
(DBN)

Scott A. Levin Joins Klehr Harrison as Partner in Bankruptcy and Restructuring Department
(DBN)

O’Melveny Launches Special Credit & Liability Management Group
(DBN)

What Are Law Reviews Good For?
(DBN)

Partner Pay Ratios Keep Stretching at Highest-Grossing Law Firms
(DBN)

Legal Department Head Counts Shrank Over Past Year, Defying Narrative They're Poised For Years Of Growth
(DBN)

Allstate Subsidiary Launches Legal-Malpractice Suit Against Lewis Brisbois
(DBN)

Despite promise to remove 'worst of the worst,' ICE has arrested only 6% of known immigrant murderers The Self-Deportation Psyop ‘Morning Joe’ Blasts ICE Claims of Arresting the ‘Worst of the Worst’ Iranian Immigrant Detained By ICE Is a Trump Supporter, Wife Says Trump administration targets Florida foster kids, migrant youth for deportations Democrat Defiant After Not Guilty Plea: 'They Will Not Intimidate Me' NJ Congresswoman Pleads Not Guilty to Obstructing ICE Agents McIver heads to court as watchdog group files complaint against Alina Habba Could 'Alligator Alcatraz' Airport Launch Deportation Flights? What We Know What to know about ‘Alligator Alcatraz,’ Florida’s immigration detention site in the Everglades DHS Condemns Official Who 'Calls for Gang Violence on ICE': 'Despicable'Judge Quotes 'The Simpsons' in Ruling Against Donald Trump In the Hamptons, Undocumented Workers Are Choosing to Self-Deport A 10-year-old Cuban girl was preparing to join her mother in Miami. Then Trump's travel ban took effect. A look at how Trump's big bill could change the US immigration system Kilmar Abrego Garcia to stay in jail as lawyers spar over potential deportation if he is released pending trial Trump DOJ implores judge not to release Abrego Garcia to ICE in confusing about-face Los Angeles' immigration detention facilities a "ticking time bomb," immigration lawyer says Trump Administration’s Immigration Policies Forecasted to Shrink U.S. Workforce and Raise Consumer Costs
(DBN)

'Full stop': Trump admin scorches Newsom over discovery demands in National Guard case
(DBN)

Noem, Lewandowski must say if they discussed protected status policy on personal devices
(DBN)

Did a Tourist Get Blocked From the U.S. Over a J.D. Vance Meme?
(DBN)

Mediator proposes $20 million settlement in Trump's CBS lawsuit
(DBN)

Department of Justice Civil Division Targets “Illegal DEI”
(DBN)

Trump Admin Hit With Mega Lawsuit as Letitia James Issues Warning
(DBN)

Jan. 6 rioter who assaulted police now wants Capitol memorial to acknowledge him too
(DBN)

States sue Trump admin over use of 'subclause buried in federal regulations' to cut funds
(DBN)

Trump Takes Revenge on Biden by Stripping Key Privilege Protection From Aides
(DBN)

Fani Willis snipes at judge who oversaw Trump RICO case after court criticizes plea deal
(DBN)

California found in violation of Title IX in clash with Trump officials over transgender athletes
(DBN)

Automatic License Plate Reader Company Removes States From National Lookup Tool After ICE and Abortion Searches Revealed
(DBN)

Faith leaders and families sue to block Texas’ new Ten Commandments in schools law
(DBN)

Diddy Prosecutors Drop Several Charges Before Closing Arguments
(DBN)

'Specialized search teams' hunting for survivalist dad after his 3 girls were found dead
(DBN)

Man beat elderly wife after she confronted him for not bathing 'for two months': Police
(DBN)

Florida gas station clerk allegedly shot customer during argument 'over the price of beer'
(DBN)

Trio who handcuffed child, sicced dog on him as form of 'corporal punishment' convicted
(DBN)

Man Who Crucified Arizona Pastor Says He Had Other Targets
(DBN)

Woman detailed issues with ex-husband on a podcast days before he allegedly shot her dead
(DBN)

The alarming rise of US officers hiding behind masks: ‘A police state’
(DBN)

America’s Incarceration Rate Is About to Fall Off a Cliff
(DBN)

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Judges:

First Woman to Lead Bankruptcy Court in Southern District of Florida to Retire From Federal Bench
(DBN)

Wisconsin Supreme Court sides with Republican Legislature in fight with governor
(DBN)

Supreme Court Liberals Raise Temperature of Dissents in Decisions Backing Deportations, 'Moneyed Interests'
(DBN)

Conservative Judges Opt to Stay: Implications for Trump’s Judicial Strategy in Second Term
(DBN)

Trump administration sues entire Maryland bench over order slowing down deportations DOJ sues entire federal district court over automatic 2-day stay in habeas cases
(DBN)

Judge rules Trump can’t eliminate federal workers’ union bargaining
(DBN)

Judge cites TV show while blocking Trump admin's halt of EV charging station funding
(DBN)

Trump Administration Urges Appeals Court to Back Tariff Power
(DBN)

Trump judicial nominee Emil Bove denies advising lawyers to ignore court orders
(DBN)

How US adults’ views on same-sex marriage have changed since the Supreme Court’s 2015 ruling Once named opponents in the Supreme Court case that legalized same-sex marriage, now they’re friends
(DBN)

US Supreme Court ending term with birthright, porn, voting rights
(DBN)

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Wall Street:

Stock futures tick higher as S&P 500 nears new record high
(DBN)

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Layoffs:

Fired, rehired and fired again, some NOAA employees get letters demanding money
(DBN)

$100M funding clause in Senate bill sparks "deeply concerning" layoff fears
(DBN)

Prospect Medical Systems to lay off 125 workers
(DBN)

Bumble Announces 30% Job Cuts
(DBN)

The list of major companies laying off staff this year including Bumble, Morgan Stanley, Disney, and Meta
(DBN)

Latest Disney Layoffs Hit Product and Tech Team
(DBN)

MindsEye Maker Facing Mass Layoff As Players Seek Refunds
(DBN)

Intel commences mass layoffs with over 100 Californian employees, including around 45 engineers in efforts to shed $500 million in operating costs this year
(DBN)

Famous American hotel chain fires hundreds of US staff and hands $400 a month jobs to El Salvador
(DBN)

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Solar:

Swiss solar panel maker Meyer Burger files for US Chapter 11 bankruptcy relief
(DBN)

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Autos:

May Vehicle Forecast: Sales "Subdued" at 15.0 million SAAR
(DBN)

Tesla Suffers Fresh Blow in Europe
(DBN)

Cargo ship carrying 3,000 new vehicles sinks off Alaska weeks after catching fire
(DBN)

France orders extra 800,000 cars off the road over Takata airbag scandal
(DBN)

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Education:

'Moral Imperative': Harvard Alumni Group Urges University To Continue Stand Against Government Demands
(DBN)

How ChatGPT and other AI tools are changing the teaching profession
(DBN)

Teacher Interviewer Not Prepared for Candidate's MAGA Hat and Iran Bombing Talk
(DBN)

MIT Sued by Student, Instructor Over Alleged Campus Antisemitism
(DBN)

GOP megabill takes aim at universities — except for this conservative Christian college
(DBN)

Ohio plans swift appeal as court declares private school voucher system unconstitutional
(DBN)

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Food/Beverage:

General Mills Expects Value-Seeking Consumers to Squeeze Profit Cheerios parent General Mills to sacrifice some profit to drive sales for 'cautious' consumers, and the stock is dropping
(DBN)

Brace Yourself for Watery Mayo and Spiky Ice Cream
(DBN)

Nestle says it will stop using artificial dyes in U.S. foods, beverages by mid-2026
(DBN)

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Retailing:

Children’s Retail Brand Files for Chapter 11 Amid Financial Struggles
(DBN)

Saks in talks for $600 million debt deal with bondholders
(DBN)

Kroger plans to close 60 US stores in 18 months to improve profits
(DBN)

Rite Aid bankruptcy: Are pharmacy deserts spreading in New York?
(DBN)

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Economy:

Fed’s Powell Says Tariff-Driven Inflation Remains a Big Question Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias Powell defends Fed’s ‘careful’ approach amid Trump insults, GOP pressure What will coax Fed chief Powell to cut interest rates? Here are a few clues. Powell says Fed needs to manage against risk tariff inflation proves persistent
(DBN)

Powell calls reports of lavish Fed building renovations inaccurate
(DBN)

JPMorgan sees tariff-induced US 'stagflationary' slowdown in 2025
(DBN)

Trump Says Three or Four People on List to Replace Fed’s Powell Treasuries Rally, Dollar Slumps as Trump Eyes Powell Successor
(DBN)

‘Workers don’t trust either party’: Sherrod Brown-backed focus groups reveal economic pessimism
(DBN)

Goodbye Fancy Bar, Hello At-Home Pizza Party: Young Americans Cut Back
(DBN)

Tariff clock is ticking and no one knows what comes next FedEx's profit forecast is sinking the stock, as tariffs weigh on shipments Spain’s Leader Calls US Levies ‘Doubly Unfair’ in Trade Spat Chinese Toymaker Takes Drastic Action to Survive Trump’s Tariffs
(DBN)

Joe Rogan Trashes US Minimum Wage: 'Disgusting'
(DBN)

Union Pushes To Extend $30 Minimum Wage to All Los Angeles Employees
(DBN)

House GOP moderates tell leadership they won’t back Senate tax bill over Medicaid cuts Key Republicans Signal 'Progress' on SALT Deal After Bessent Meeting Trade Deals Could Eliminate Need for ‘Revenge Tax’, Hassett Says The megabill’s math isn’t adding up for Senate Republicans Republicans are getting cold feet over massive tax bill. Here's how Trump hopes to close the deal. GOP budget bill could transfer wealth from young Americans to older generations, study finds Treasury Close to Deal That Would Make ‘Revenge Tax’ Irrelevant Republicans ‘Far From’ Deal on SALT Limit, New Yorker Says
(DBN)

Trump Eyes Little-Tested Tactic for Next Step in Spending Clash
(DBN)

Trump Policies Will Cut Deficits Up to $11 Trillion, White House Economist Says
(DBN)

The US is staring down a fate worse than recession, and 4 other bold forecasts from a top economist
(DBN)

Why more big companies like Sherwin-Williams are talking about immigration on their earnings calls
(DBN)

Zohran Mamdani has NYC's business community "terrified" Mamdani’s Shock Win Has Wall Street Fretting Over ‘Hot Commie Summer’ The billionaires who bet big on the NYC mayoral primary — and lost Eric Adams suddenly finds ‘overwhelming support’ from NYC’s desperate business elites
(DBN)

Majority of Millionaires Supports Wealth Tax
(DBN)

Ford calls majority of workforce into the office four days a week
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Corvias’ U. System of Georgia Project Files for Bankruptcy - Liabilities of $500M to $1B Housing Authority that overseas nine Georgia colleges files bankruptcy Company that manages AU dorms files for Chapter 11
(DBN)

Sales of new homes tanked in May, pushing supply up to a 3-year high New Home Sales Decrease to 623,000 Annual Rate in May New-home sales plunge to a 7-month low as buyers struggle with high prices. Expect more weakness in the months ahead.
(DBN)

MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
(DBN)

US Mortgage Rates Edge Up: MBA
(DBN)

Trump administration moves to count crypto as a federal mortgage asset
(DBN)

Housing market set for the 'worst year in decades,' says Meredith Whitney
(DBN)

Democratic Socialist candidate Mamdani’s projected win has NY’s real estate in the red
(DBN)

New York banks, REITs fall as Mamdani's mayoral lead stokes rent freeze worries
(DBN)

Only 3 of the top 50 US housing markets meet an industry affordability standard
(DBN)

Bankrupted Newtown apartment complex that defaulted on a $57M mortgage to be sold
(DBN)

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Municipalities:

Small City in Washington State Files Rare Bankruptcy Over Developer Dispute Cle Elum files for bankruptcy over $26M debt to developer over delayed housing project City of Cle Elum files for bankruptcy: Part 1
(DBN)

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Politics:

Trump Pivots to Tax Cuts to Combat Voters’ Economic Anxiety
(DBN)

Trump Organization scraps ‘made in the USA’ tag for its gold T1 smartphone
(DBN)

Donald Trump's Chances of Winning Nobel Peace Prize Skyrocket MAGA Sycophant Leads Charge to Get Iran-Bombing Trump a Nobel Peace Prize
(DBN)

Massie isn't backing down. Neither is Trump.
(DBN)

'I ran the CIA - these are Trump's mistakes and why they're so scary'
(DBN)

Pelosi backs growing Democratic push to limit Trump's war powers on Iran Poll finds U.S. strikes on Iran backed by Republicans, disapproval overall; most say Trump needs Congress' OK
(DBN)

Trump to limit sharing classified info with Congress after leak on Iran bombing damage
(DBN)

MAGA Firebrand Candace Owens ‘Embarrassed’ She Supported Trump
(DBN)

Trump net approval hits new low in Economist/YouGov poll
(DBN)

World leaders laugh and brand Trump a 'tosser' while gossiping behind his back, lip reader claims
(DBN)

Trump knocks down barriers around personal data, raising alarm
(DBN)

NATO chief calls Trump ‘Daddy’ after president drops f-bomb Call him Daddy: NATO chief's comments betray reality of military alliance's take on Trump
(DBN)

Steve Bannon Mocks Fox News Host as ‘Tel Aviv Levin’ as MAGA Civil War Rages
(DBN)

Mamdani Stuns Cuomo in New York Mayoral Primary NYC Democrats Rebuke Establishment With Vote for Zohran Mamdani 5 takeaways from the NYC mayoral primary How Zohran Mamdani Turned Youth and Inexperience Into Assets A New Political Star Emerges Out of a Fractured Democratic Party Republicans are racing to make Zohran Mamdani the face of the Democratic Party Conservatives Are Already Sowing Panic Over Zohran Mamdani MAGA right attacks Zohran Mamdani’s religion following his win MAGA erupts with Islamophobic attacks on Zohran Mamdani White House Responds to Zohran Mamdani's Election Win Winners and losers from the New York City mayoral primary New York Democrat says Mamdani is ‘too extreme’ to lead NYC Schumer, Jeffries congratulate Mamdani on NYC upset, stop short of endorsements Why the NYC mayoral election may be a five-way race in November See how every neighborhood in New York City voted in the mayoral primary
(DBN)

Progressives Just Won Big in New York's Second-Largest City
(DBN)

Democrats seek Iran intel as doubts grow over strikes’ effectiveness
(DBN)

John Fetterman Gets Good News From Republicans in His Home State
(DBN)

Usha Vance’s New Life in Trump’s Washington
(DBN)

Zohran Mamdani’s shock win over Andrew Cuomo fuels rumors of AOC 2028 presidential run: ‘Broadens her horizons’
(DBN)

Kari Lake makes astonishing claim about congressman's 'gay lover' during off the rails congressional hearing
(DBN)

Elon Musk's unpopularity hits all-time high after leaving Trump admin
(DBN)

Greenland Miner Eyes US, EU Deals After Trump Boosted Interest
(DBN)

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Student Debt:

Powell on Student Loan Debt: 'Seems Like Something for Congress to Consider'
(DBN)

2 million student loan borrowers at risk of garnished wages: Analysis
(DBN)

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Climate:

Temperatures in 8 States Will Feel Hotter Than Hottest Place on Earth
(DBN)

One more sizzling hot day for the eastern US before temperatures plunge 30 degrees
(DBN)

Millions of Americans Told To Stay Indoors In 24 States
(DBN)

It’s not just the cities. Extreme heat is a growing threat to rural America.
(DBN)

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Sports:

Fan banned after heckling Diamondbacks’ Ketel Marte to tears with comments about late mother
(DBN)

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Telecom:

Trump May Have Saved DISH Network from Bankruptcy For Now
(DBN)

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Media:

Few Americans pay for news when they encounter paywalls
(DBN)

The End of Publishing as We Know It
(DBN)

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Agribusiness:

Pro-Trump farmers struggle, some face bankruptcy with cancellations of agriculture-friendly programs
(DBN)

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Comic Books:

Diamond Moves To Liquidate All Consigned Comics "Held Hostage"
(DBN)

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New Bankruptcy Opinions
(4 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (21 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (73 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Estoppel:

Judicial Estoppel in Legal Malpractice Defense: Protecting Law Firms From Contradictory Client Claims
(DBN)

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Turnarounds:

Bogdan Ple?uvescu, BT: The business environment needs turnaround specialists
(DBN)

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Bankruptcy Alternatives:

Restructure This! Episode 27: What You Always Wished You Knew About Assignments for the Benefit of Creditors
(DBN)

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Cross-Border:

Exporting Bankruptcy: China's Jurisdictional Gambit Under Chapter 15
(DBN)

Integratel Peru: Court Bans Actions in US Against Peru Process
(DBN)

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LMEs:

Liability Management Exercises: Read the Fine Print
(DBN)

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Mass Torts:

Archdiocese of New Orleans back in court for bankruptcy case
(DBN)

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SCOTUS:

A blockbuster finale looms
(DBN)

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Property of the Estate:

Real Property Owned By Dissolved LLC Was Not Property Of Individual Member’s Bankruptcy Estate
(DBN)

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Aviation:

JetBlue's second-largest investor will consider selling stake without changes
(DBN)

Las Vegas Plane Billows Smoke as Videos Capture Explosions
(DBN)

Man accused of kicking sreening K9 at Dulles International Airport so hard "he was lifted off of the ground"
(DBN)

Passengers Soaked After Bumpy Plane Landing Bursts Booze Bottles
(DBN)

What to Say When Someone's Being Rude on an Airplane
(DBN)

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Tech:

The Front Page of the Dead Internet
(DBN)

San Francisco’s Luxury Housing Market Is Booming Again Thanks to AI Wealth
(DBN)

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Utilities:

Michigan residents ‘basically live Amish’ to beat constant Consumers, DTE rate hikes
(DBN)

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Religion:

Pope Leo XIV affirms celibacy for priests, demands 'firm' action on sex abuse
(DBN)

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Healthcare:

Senate GOP floats $15 billion fund for rural hospitals
(DBN)

Envision Healthcare secures 2030 term loan and ABL credit facility to stabilize financial future
(DBN)

Too sick to work, some Americans worry Trump's bill will strip their health insurance
(DBN)

Capitol Police arrest dozens of people protesting Medicaid cuts in Trump budget bill
(DBN)

RFK Jr.-appointed CDC vaccine panel says it will scrutinize the childhood vaccine schedule RFK Jr.’s Overhauled Vaccine Panel Hit With Humiliating Early Exit Americans’ Access to Lifesaving Vaccines Threatened by RFK Jr. Overhaul RFK Jr. says US won’t donate to global vaccine effort The U.S. Is Going Backwards on Vaccines, Very Fast CDC to hire former head of anti-vaccine group founded by RFK Jr.
(DBN)

RFK Jr's bonkers plan to fit every American with a tracking device as he hunts for causes of cancer, autism
(DBN)

Trump US CDC nominee backs vaccines as life-saving
(DBN)

Disposable vapes MORE likely to cause cancer than cigarettes, shock research indicates
(DBN)

Planned Parenthood turns to states for a lifeline
(DBN)

ChatGPT and OCD are a dangerous combo
(DBN)

Deaths from heart attacks are way down. Here’s what’s killing us instead
(DBN)

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Trucking:

Dolche Truckload files for bankruptcy after defaulting on tractor, trailer loan payments
(DBN)

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Sovereigns:

Ghana approves $2.8 billion debt relief deal with creditor nations
(DBN)

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UK:

Insolvency litigation finance firm thrilled with record revenues
(DBN)

1,600 equal pay claims risk council issuing bankruptcy notice if they succeed
(DBN)

The world's richest people used to flock to the UK. Now, it's bleeding millionaires at a record rate.
(DBN)

Britain’s migrant crisis being fuelled by Putin’s Russia and other hostile states in secret plot to destabilize UK
(DBN)

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EU:

Trump says US would protect NATO allies, recognizing that ‘they love their countries’ Royal Pomp and Political Flattery Help Sway Trump on NATO Unity Europe Wins Over Trump on Defense With NATO Spending Boost
(DBN)

Trump Threatens to Double Spanish Tariffs Over NATO Spending
(DBN)

How much do NATO members spend on defense? These are the countries that spend the most — and the least
(DBN)

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Canada:

"Weathering The Storm": Key Learnings From Insolvency Insider's Distressed Real Estate Conference 2025
(DBN)

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MENA:

Early US intelligence report suggests US strikes only set back Iran’s nuclear program by months Rubio Fleshes Out Trump’s Case That Iran Nuclear Capacity Was Eliminated Trump and Hegseth admit doubts about level of damage to Iran nuclear sites Where is the Ayatollah? Iran’s fanatical leader, 86, not seen in a week – as CIA confirms Trump obliterated nuke sites Intel leaders say new intelligence shows Iran's nuclear sites could take "years" to rebuild Iran Admits Heavy Nuclear Damage as Israel Backs Trump Trump says US and Iranian officials will talk next week as ceasefire holds The Problem With Trump’s Cease-Fire Trump says U.S. will meet with Iran next week Israel-Iran ceasefire holds, offering hope, but also uncertainty as Iran threatens to accelerate nuclear work This is what could happen next after an Israel-Iran ceasefire Video Shows Top Iranian Commander Alive, Defying Death Reports Photos show damage in Haifa and Tel Aviv in the latest Iranian missile barrage Iran restores internet connectivity, signaling a return to normal Inside Iran's Spy Crisis: Who Helped Israel's Attacks as 700 Arrested? IDF commandos covertly operated in Iran, Zamir reveals Iran's strategic blunders paved the way for humiliating defeats, experts say Trump denies Iranians moved nuclear materials before US strikes Iran's Enriched Uranium Is Missing—Nuclear Watchdog IAEA Pickaxe mountain: Iran’s new hidden nuclear fortress Israel reportedly knows location of Iran’s enriched uranium stockpiles, Saudi outlet claims A battered Iran faces an uncertain future after its grinding war with Israel Trump says nuclear deal with Iran not ‘necessary’ Four Signs Iran and Israel Could Soon Return to War Trump Warns Iran-Israel War 'Could Maybe Start Again Soon'
(DBN)

Israel Campaign Against Iran Cost 1% of GDP, Yaron Says
(DBN)

Iran Caused $3 Billion of Damage With Missile Strikes on Israel
(DBN)

Doctors and moms say these babies in Gaza may die without more formula. They blame Israel's blockade
(DBN)

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Russia:

Russian Maker of Warplane Components Goes Insolvent
(DBN)

Russia Issues New 'Doomsday' Nuclear World War III Warning
(DBN)

Trump meets with Zelenskyy and says higher NATO defense spending may deter future Russian aggression
(DBN)

Trump Says US to Consider More Air-Defense Batteries for Ukraine
(DBN)

Russia still holds an untold number of abducted Ukrainian children
(DBN)

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India:

A Significant Legal Conundrum in Section 7 under the Insolvency and Bankruptcy Code, 2016
(DBN)

Analyzing Insolvencies within the Aviation Sector: Evaluating the Relevance and Effectiveness of the Insolvency and Bankruptcy Code of 2016
(DBN)

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Australia:

Judge criticizes bid to thwart Victorian Liberal party’s John Pesutto bailout as ‘half baked’ waste of court time
(DBN)

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Germany:

German corporate insolvencies at highest level in a decade, study shows
(DBN)

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