July 1, 2025

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Trump administration appeals judge’s ruling blocking Perkins Coie executive order DOJ to Appeal Perkins Coie EO Decision Trump executive order ‘cuts Susman off at the knees,’ judge says, permanently blocking it Trump Is 0-4 Defending His Biglaw Executive Orders
(DBN)

Counsel Argue to D.C. Federal Judge That Trump Revoked Attorney's Security Clearance as Retribution
(DBN)

Two More Paul Weiss Partners Leave for Dunn Isaacson Spinoff
(DBN)

What It Means to Be a Lawyer When the Rule of Law Is Under Attack
(DBN)

Biglaw Firm Made A Big Mistake By Signing This Deal With Trump
(DBN)

Restructuring Partners Ingrid Bagby and Michele Maman Join Haynes Boone’s Expanding New York Office
(DBN)

Paul Hastings Spies $2.5 Billion Revenue Goal on Vigorous Hiring
(DBN)

Biglaw Firm Enters Merger Talks After Losing Nearly 60 Lawyers To Competitors In Mass Lateral Moves
(DBN)

John C.P. Goldberg named Harvard Law School dean
(DBN)

Proskauer Lands Paul Weiss Management Committee Member to Lead on PE Deals
(DBN)

Work/Life Balance Doesn’t Have To Be A Myth For Lawyers
(DBN)

Building a Legal AI Dream Team Means Prioritizing the Human Side
(DBN)

ICE in LA Sets Hollywood Summer on Edge as Latino Workers Hide: ‘It’s Like Anne Frank’ ICE fears shut down July Fourth events in multiple California cities US revokes visas for musicians after band leads chants against Israeli military Supreme Court to Consider Standard for Reviewing Asylum Denials More California July Fourth events canceled due to immigration raids Trump administration sues Los Angeles over immigration policies ICE detentions of non-criminal immigrants spike; about 8% have violent convictions, analysis of new data shows ‘I wanted to do something to fight back’: Developer makes app to flag ICE raids Judge Again Delays Abrego Garcia’s Release From Tennessee Jail Over Deportation Concerns Abrego Garcia's release delayed after lawyers cite 'contradictory' deportation plans Air Force to manage new militarized zone along US-Mexico border Kristi Noem Responds to ICEBlock App: 'Obstruction of Justice' ICE Raids on US Farms Leaves Crops Rotting Donald Trump Says No Migrants Have Entered in Past Month: What to Know
(DBN)

Trump’s justice department issues directive to strip naturalized Americans of citizenship for criminal offenses
(DBN)

Judge Seeks US Assurances on Deportations in Birthright Case
(DBN)

How Trump's DOJ could legally force CNN, NYT to reveal leakers of Iran strike assessment
(DBN)

Trump and CBS in ‘Advanced’ Settlement Talks in ‘60 Minutes’ Case as Deal Appears Close
(DBN)

Trump Drops Lawsuit Against Iowa Pollster Ann Selzer — Her Attorneys Confirm ‘No Settlement’ Paid
(DBN)

Amid wave of attacks on religious facilities, Justice Department pledges action
(DBN)

A Decade After Obergefell, Is Same-Sex Marriage Safe?
(DBN)

Cartel Fighters Make a Desperate Alliance That Could Transform Underworld
(DBN)

Notorious cartel hired hacker to use surveillance cameras, phone data to track and kill FBI informants, U.S. says
(DBN)

Sean "Diddy" Combs trial jury starts deliberations in sex trafficking and racketeering case Jurors At Diddy Trial Concerned One Member ‘Cannot Follow’ Judge’s Orders Diddy trial verdict chaos as jury surprises judge with note two hours after starting deliberations How judge in Sean ‘Diddy’ Combs trial responded to note sent about juror #25
(DBN)

Bryan Kohberger to plead guilty to Idaho murders in exchange for avoiding death penalty
(DBN)

A man lured Idaho firefighters to a mountain with a fire then shot and killed 2, officials say
(DBN)

Man accused of pushing woman into river made sure his police interview ended quickly: Cops
(DBN)

'Abusers ... can no longer hide': Texas law knocks out NDAs for sex abuse victims
(DBN)

Dad lambasted for murdering newborn with crossbow, running into woods like 'scared rat'
(DBN)

Woman told elderly mom 'this is for the best' while son allegedly strangled her
(DBN)

'He is not in a hotel': Sheriff slams assassination suspect whining about jail conditions
(DBN)

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Judges:

Former Bankruptcy Judge Steckroth Picked for Zucker Probe
(DBN)

Supreme Court takes up major campaign finance case over federal limits on coordinated spending
(DBN)

NJ attorney general: Universal injunctions still possible after Supreme Court ruling
(DBN)

More class action suits, shadow docket rulings may follow SCOTUS decision nixing nationwide injunctions
(DBN)

Four Ways the Universal Injunction Ruling May Complicate Lawsuits
(DBN)

The Supreme Court’s injunctions decision returns America to the constitutional horrors of Dred Scott
(DBN)

John Roberts Wants America To Understand That He Does Not Care After Supreme Court term, Chief Justice Roberts shrugs off ‘venting’ by those who lost
(DBN)

Justices’ nerves fray in Supreme Court’s final stretch
(DBN)

Supreme Court Slaps Down RFK Jr’s Anti-Vax Group Lawsuit
(DBN)

A teacher was fired over TikTok memes — and only Clarence Thomas had something to say
(DBN)

Supreme Court Doesn't Have 5 Votes to Uphold Birthright Citizenship: Ex-AG
(DBN)

Transgender-Rights Rulings Warrant New Look, Supreme Court Says
(DBN)

Justice Department Lawsuit Drags Courts Into Political Fight
(DBN)

Appellate judges sharply question whether courts can really 'second-guess' Trump on AEA
(DBN)

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Wall Street:

Stock futures fall to kick off the second half of 2025
(DBN)

A Hot New Firm Opened the Private Market to the Little Guy. Now it Is in Big Trouble.
(DBN)

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Layoffs:

List of Companies Laying Off Employees in July
(DBN)

Lowe’s CEO warns young workers to stay away from the corner office: ‘AI isn’t going to fix a hole in your roof’
(DBN)

Trump tried to fire them. But these Democratic appointees are still on the job.
(DBN)

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Climate:

Key data used in hurricane forecasting will be cut by end of July, NOAA says NOAA delays the cutoff of key satellite data for hurricane forecasting
(DBN)

Europe swelters under scorching temperatures as regions issue heat alerts
(DBN)

Renewables Slide as Senate Bill Takes Aim at Clean Energy
(DBN)

A Georgia town that solidly backed Trump could fall victim to his tax bill's green energy cuts
(DBN)

GOP amendment seeks to undo GOP’s new hurdles for solar and wind How clean-energy amendments could unravel the GOP megabill Murkowski plans amendment to ease solar, wind tax credit phaseouts Why wind and solar hit a brick wall in Congress
(DBN)

There’s a Race to Power the Future. China Is Pulling Away.
(DBN)

JPMorgan Executive Says US Pressure Can’t Derail Climate Agenda
(DBN)

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Healthcare:

GOP senators unveil amendment to shrink Medicaid by another $313B Retiring GOP senator savages Medicaid cuts in Trump's "big, beautiful bill"
(DBN)

Why Can’t Americans Sleep?
(DBN)

Trump Plots to Rip Funding From Children’s Hospitals
(DBN)

FBI Says It's Uncovered Largest Medical Fraud in US History
(DBN)

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Batteries:

US Startup Bets on Battery Boom With Northvolt Polish Purchase US startup Lyten to take over Northvolt's energy storage systems factory in Poland
(DBN)

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Education:

Mass. girls prep school closes less than a decade after opening, files for bankruptcy
(DBN)

Trump administration says Harvard violated federal civil rights law in treatment of Jewish students Trump Administration Places Thumb On Negotiation Scale, Decides Harvard Didn’t Do Enough To Fight Antisemitism Harvard’s Talks With White House to Reach Quick Deal Stall Trump administration says Harvard risks ‘loss of all federal resources’ due to alleged campus antisemitism
(DBN)

Americans Are Using Crowdfunding to Pay for College
(DBN)

Catholic school fires teacher after his husband's obituary reveals their marriage
(DBN)

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Economy:

Trump administration eyes Fed vacancy in early 2026 to appoint Powell successor, Bessent says
(DBN)

Bessent on becoming Fed chair: ‘I will do what the president wants’
(DBN)

Trump and Fed Policy Trump shares handwritten note to Powell: ‘You have cost the USA A Fortune’ Trump attacks Fed again in open letter calling for lower rates
(DBN)

Trump Oversees Worst Dollar Start to Year in Over Half a Century
(DBN)

Dalio Calls for Bipartisan Solution to Address US ‘Debt Bomb’
(DBN)

Banks shrug off deficit concerns and cheer Trump’s ‘big, beautiful bill’
(DBN)

Fed's Bostic still eyes one rate cut this year
(DBN)

Fed’s Bostic Says Tariff Pass-Through May Be Slow, Persistent
(DBN)

Canada-U.S. trade talks resuming after Canada kills plan to tax U.S. tech firms, Carney says. Trump had railed against it Trump won't let other countries score big ‘wins’ in trade talks. Both sides could lose Trade deal lowering US tariffs on some UK imports goes into effect: British government Trump threatens Japan with new tariffs, claiming it won’t buy America’s rice EU to Accept Trump Universal Tariff But Seeks Key Exemptions
(DBN)

This could be the summer of economic hell
(DBN)

US prices for China-made goods on Amazon rise faster than inflation, analysis shows, as tariffs bite
(DBN)

What the rise of “buy now, pay later” services tells us about the economy
(DBN)

Rising government debt poses greatest risk to US market standing, says BlackRock
(DBN)

Immigrants Revived Rust Belt Cities. Now They’re in Hiding.
(DBN)

CBO Score Shows Senate OBBBA Adds Over $3.9 Trillion to Debt
(DBN)

On Trump’s tax bill, GOP tries new accounting trick as national debt mounts
(DBN)

The Birth-Rate Crisis Isn’t as Bad as You’ve Heard—It’s Worse
(DBN)

Gen Z's Financial Reality as Nearly Half Run Out of Money Each Month
(DBN)

List of Companies Being Boycotted in July
(DBN)

That Dropped Call with Customer Service? It Was on Purpose.
(DBN)

Social Security insolvency could speed up with illegal immigration crackdown
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

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Real Estate:

Freddie Mac House Price Index Declined in May; Up 2.2% Year-over-year
(DBN)

Mark Nussbaum begins bankruptcy alternative to pay off escrow clients
(DBN)

Housing June 30th Weekly Update: Inventory up 0.3% Week-over-week, Up 28.7% Year-over-year
(DBN)

More Than 5,000 Rent-Stabilized NYC Apartments Face a Funding Crunch
(DBN)

Condo crisis grows as 75-year-old HOA goes bankrupt under $50M debt... experts warn more at risk
(DBN)

The Zillow Blacklist is officially here
(DBN)

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

NYC’s Rent-Stabilized Apartment Prices to Rise at Least 3%
(DBN)

The Whole Country Is Starting to Look Like California
(DBN)

Cities lose hope for restarting disaster projects killed by Trump
(DBN)

Wall Street Chases Billions in Fees From Burnt-Out LA Homes
(DBN)

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Oil/Gas:

EIA Sees USA Crude Oil Production Rising in 2025
(DBN)

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Politics:

Warning signs emerge for Trump with independent voters
(DBN)

Senate begins marathon vote series on Trump's "big, beautiful bill" as GOP eyes July 4 deadline Senate votes on amendments to Trump’s ‘big, beautiful bill’ stretch late into the night Senate Pulls All-Nighter on Trump Tax Bill With GOP Divided Richest 20% Get an Average $6,055 Income Boost in Trump Tax Bill ‘Big beautiful bill’ mostly benefits the rich, low earners would suffer from Medicaid and SNAP cuts: Yale report Sen. Mark Warner says Trump's tax bill will be a "political albatross" for Republicans Trump, Republicans Rush to Overcome Internal Clashes on Tax Bill States brace for impact as Trump's big bill nears completion in Congress Graham claims sole authority to decide if GOP megabill complies with budget laws Anxious House Republicans scramble to forestall Senate’s Medicaid cuts Who wins and loses in Republicans' 'big, beautiful bill'
(DBN)

Elon Musk Calls For New Political Party to Stop Trump’s ‘Insane’ Spending Bill Donald Trump Threatens to Unleash DOGE on Elon Musk Trump Reprises Tesla Subsidy Threat as Musk Bashes Spending Bill Musk shreds Trump’s tax bill as ‘DEBT SLAVERY,’ vows to unseat Republicans who back it Musk Lashes Out at Tax Bill Proponents, Threatens to Unseat Lawmakers
(DBN)

Did Republicans Just Kill the Filibuster?
(DBN)

MAGA’s Civil War Isn’t Over
(DBN)

'Free America': Anti-Trump Protests Taking Place Nationwide on 4th of July
(DBN)

Does Trump In Fact Deserve The Nobel Peace Prize?
(DBN)

How Trump Family Profits From President’s Scorched-Earth Civil War Fallout
(DBN)

'Just want to go home': Fetterman whines he's missing 'trip to beach' for vote
(DBN)

Trump Threatens NYC Federal Funding If Mamdani Doesn’t ‘Behave’ Zohran Mamdani’s ‘Coalition of the In-Between’ How Zohran Mamdani Brought New Voters to the Polls White House reacts to Republican calls for Zohran Mamdani's deportation Zohran Mamdani Defends Agenda Amid Democrat Pushback The anatomy of Zohran Mamdani’s winning campaign poster Top Democratic Senator Goes On Wildly Racist Tirade Against Zohran Mamdani Zohran Mamdani on Why He Won Zohran Mamdani Defends Agenda Amid Democrat Pushback Zohran Mamdani Not Fully Embraced by Top New York Democrats New Yorkers 'Accelerating' Florida Move Plans After Mamdani Victory
(DBN)

Gallup: American Pride Slips to New Low National pride is declining in America. And it's splitting by party lines, new Gallup polling shows Gen Z Drives Sharp Decline in American Pride: Poll
(DBN)

Departing GOP Centrist Has Big Decision on Trump Megabill
(DBN)

Trump Puts the Senate in Play in 2026
(DBN)

A town tried to heal racial divides. It energized Confederate supporters instead.
(DBN)

Supreme Court to hear case that could upend campaign finance coordination rules
(DBN)

Trump’s Crackdown On ‘Negative’ History At National Monuments Faces Sabotage By Counter-Protest
(DBN)

Tillis told Trump to ‘start thinking about my replacement’ before primary threat McConnell calls Tillis retirement ‘big setback’ for Senate GOP Why Republican Senator Thom Tillis Is Retiring
(DBN)

Dan Patrick calls for resignation of Tarrant County GOP chair over controversial poll
(DBN)

Study Warns Trump’s Plan for US Aid Cuts Risks 14 Million Additional Deaths
(DBN)

Trump Crypto Venture Raises $220 Million for Bitcoin Mining
(DBN)

George W. Bush Joins Obama in Rebuke of Trump
(DBN)

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Banking:

Santa Anna National Bank Closed by Federal Regulators; Deposits Assumed by Coleman County State Bank
(DBN)

US banks rise as Fed stress test success clears path for payouts
(DBN)

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Retailing:

CVS closes over 270 stores in 2025
(DBN)

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Trucking:

June ends with third Illinois trucking company to file for bankruptcy
(DBN)

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Fraud:

June 2025 Ponzi Scheme Roundup
(DBN)

More than 300 charged in $14.6 billion health care fraud schemes takedown, Justice Department says
(DBN)

US Charges North Koreans in Plot to Defraud More Than 100 Firms
(DBN)

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Awards:

The 2025 Lawdragon 500 Leading Global Bankruptcy & Restructuring Lawyers
(DBN)

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Movie Theaters:

AMC Entertainment Announces Collaborative Agreement with Creditors
(DBN)

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New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (51 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (4 new filings today)
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Personal Genomics:

23andMe Receives Court Approval for Sale to TTAM Research Institute, a Nonprofit Public Benefit Corporation Judge OKs sale of 23andMe — and its trove of DNA data — to a nonprofit led by its founder
(DBN)

California AG says 23andMe sale ‘does not comply’ with state law
(DBN)

____________

Crypto:

Making Way For Stablecoin—Genius Act Would Amend Bankruptcy Code to Accommodate Certain Crypto Assets
(DBN)

FTX Reveals Next Repayment Date to Fully Compensate Large Creditors
(DBN)

____________

Litigation Finance:

Gains from litigation funding would be taxed at nearly 32% in latest Senate version of budget megabill Litigation Finance Levy Cut From Tax Bill by Senate Referee
(DBN)

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Mass Torts:

St. John Vianney parishioners outraged at school shutdown and bankruptcy payment
(DBN)

The meter is running on the Buffalo Diocese's legal fees: More than $17 million and counting
(DBN)

____________

Aviation:

Supreme Court Rejects American Air Appeal on Dismantled JetBlue Alliance
(DBN)

Plane passenger caught with 16 live snakes in luggage, including a rhino rat snake
(DBN)

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Agribusiness:

Migrant Farm Workers Says It Will Be 'Chaos' Without Them
(DBN)

Immigration raids leave crops unharvested, California farms at risk
(DBN)

____________

Tech:

Wolfspeed files for bankruptcy protection to cut worsening debt, shares jump Wolfspeed files for bankruptcy in effort to turn around NC chipmaker Wolfspeed shares soar 95% after bankruptcy filing to cut debt Renesas shares fall after supplier Wolfspeed files for bankruptcy
(DBN)

Digital Workers Have Arrived in Banking
(DBN)

Elon Musk’s xAI raises $10 billion in debt and equity as it steps up challenge to OpenAI
(DBN)

Web giant Cloudflare to block AI bots from scraping content by default
(DBN)

Senate Removes Tax Bill Provision Limiting State AI Regulation
(DBN)

Trump’s TikTok Buyer Is the Same Group Behind a Previous Stalled Bid
(DBN)

Barclays: 'Single biggest story' driving U.S. stock market in 2025 is the 'AI dividend'
(DBN)

____________

Student Debt:

Student Loan Servicer Says Borrowers May Reapply for IDR: What to Know
(DBN)

____________

Food/Beverage:

Del Monte plans bankruptcy after completing LME in 2024
(DBN)

Cracker Barrel Fans Mourn the Loss of That Old-Timey Feeling
(DBN)

China’s Answer to Starbucks Opens First US Locations in NYC
(DBN)

America's second-favorite restaurant plots 40 new stores… as competitors go bankrupt
(DBN)

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Pallets:

Private Lenders Pitch Restructuring for Stressed Pallet Company
(DBN)

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Clean Energy:

Solar, Wind Industries See Existential Threat in Senate Tax Bill
(DBN)

Solar and wind industry faces up to $7 billion tax hike under Trump’s big bill, trade group says
(DBN)

These Maps Show Where Trump's 'Big Beautiful' Bill Will Cancel Clean Energy
(DBN)

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Entertainment:

Gavin Newsom's Plan To Save Hollywood
(DBN)

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Coal:

Paxton Suit Against Blackrock, Vanguard Is All Hat and No Cattle
(DBN)

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Autos:

Renault Takes $11 Billion Non-Cash Loss in Nissan Change
(DBN)

Hertz’s new AI scanners charge renters instantly, even for tiny scratches
(DBN)

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Sovereigns:

African nations spend more on debt servicing than health — Report
(DBN)

____________

UK:

UK's Thames Water seeks creditor approval for latest loan draw down
(DBN)

Fears mount over UK fuel supplies after Lindsey oil refinery owner collapses UK's Lindsey oil refinery insolvent, 420 jobs at risk Government steps in to support at-risk jobs following refinery insolvency
(DBN)

U.S. revokes Bob Vylan's visas as BBC apologizes for live streaming Glastonbury set with anti-Israel chant
(DBN)

____________

EU:

Euro zone inflation edges higher, hitting ECB’s 2% target in June
(DBN)

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China:

China’s Communist Party Now Has 100 Million Members. Many Are in It for the Paycheck.
(DBN)

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MENA:

Trump expected to sign executive order easing Syria sanctions
(DBN)

IDF kills women and children in Gaza beachfront café bombing
(DBN)

Iran raises death toll from war with Israel to more than 900
(DBN)

Iran Threatens to Flog Elon Musk's Starlink Users
(DBN)

Judges rule against Palestinian human rights group's claim that the UK is illegally arming Israel
(DBN)

U.S. holding "preliminary discussions" on Israel-Syria deal
(DBN)

Iran Threatens to Release 100GB of Trump Aides' Emails
(DBN)

____________

Russia:

Russia deploys 50,000 troops around Sumy, threatening new push into Ukraine
(DBN)

Russia pays young Ukrainians to be unwitting suicide bombers in shadow war
(DBN)

____________

Argentina:

Milei Suffers Legal Blow in Burford’s $16 Billion YPF Case In a blow to Milei, a US judge orders Argentina to turn over its majority stake in state oil company
(DBN)

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Malaysia:

Sapura Energy restructuring in ‘final stages’, says company
(DBN)

____________

Hong Kong:

HKs New World Development secures US$11bil refinancing deal Why Property Giant New World Isn’t Out Of the Woods Despite Whopper Deal
(DBN)

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Italy:

Does Corporate Governance Matter? Italian Law Regarding the Duties of Directors in the Vicinity of Insolvency
(DBN)

Italy to Allow 500,000 New Migrant Entries in Next Three Years
(DBN)

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