 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Wolfspeed Prepares to File for Bankruptcy Within Weeks
Wolfspeed is preparing to file for bankruptcy within a matter of weeks as the publicly traded chip component maker struggles to address its debt pile, WSJ Pro Bankruptcy reported. After passing on multiple debtholder proposals to restructure its debt out of court, Wolfspeed is aiming to hash out a chapter 11 plan that would have the support of a majority of its creditors. READ MORE | | | | |  | | Editor's Picks | | | | | Brazilian Airline Gol Says U.S. Court Approves Restructuring Plan
Brazilian airline Gol said on Tuesday its restructuring plan under chapter 11 bankruptcy proceedings has been approved by a U.S. court, Reuters reported. The Brazilian carrier, which has been in bankruptcy proceedings since early 2024, told Reuters it expects to exit chapter 11 in June. READ MORE | | Education Department Backlog Leaves Nearly 2 Million Student Loan Borrowers in Limbo
Nearly 2 million federal student loan borrowers who’ve requested to be in an affordable repayment plan are stuck in a backlog of applications, waiting to be approved or denied, according to new data recently shared by the U.S. Department of Education, CNBC.com reported. The Education Department disclosed the information in a May 15 court filing in response to a legal challenge lodged by the American Federation of Teachers. The teachers’ union sued the Trump administration in March for shutting down access to income-driven repayment plan applications on the Education Department’s website. READ MORE | | Georgia Carrier Disputes Top Creditors’ Claims in Bankruptcy Filing
BMX Transport filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Georgia on Tuesday, Freight Waves reported. The Gainesville, Ga.-based trucking company owes $1 million-$10 million in liabilities to between 100 and 199 creditors. The company has $1 million-$10 million in estimated assets. READ MORE
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July 24-27 | Amelia Island, Fla. | | | | |  | | Daily Roundup | | | | | U.S. Trade Panel's Vote Paves Way for Stiff Tariffs on Many Solar Imports
The U.S. International Trade Commission determined on Tuesday that domestic solar panel makers were materially harmed or threatened by a flood of cheap imports from four Southeast Asian nations, bringing the United States a step closer to imposing stiff duties on those goods, Reuters reported. The "yes" vote by the three-member ITC means the Commerce Department will issue orders to enforce countervailing and anti-dumping tariffs on solar products imported from Malaysia, Thailand, Cambodia and Vietnam that the agency finalized last month. READ MORE | | Fed's Musalem Warns Tariffs Could Have 'Significant' Impact on Economy Despite China Trade Truce
St. Louis Federal Reserve president Alberto Musalem said that even after President Trump's 90-day trade truce with China, tariffs at their current levels could have a "significant" impact on the economy in the short term, YahooFinance.com reported. They could dampen growth, soften employment, and have one-off effects on prices, he added. Yet Musalem noted that he believes central bank monetary policy is "currently well-positioned" to respond to the impact of changes in trade policy, immigration, tax policy, and deregulation. READ MORE | | Foreclosure Lawsuit Filed Against Owners of Celebration Pointe over Townhome Community Loan
The owners of Celebration Pointe, who last year filed for chapter 11 bankruptcy protection, are now facing a foreclosure lawsuit in connection with a luxury townhome community located within the large development west of I-75, for allegedly defaulting on a nearly $6 million bank loan, the Gainesville Sun reported. Mainstreet Community Bank of Florida has filed the complaint against The Vue At Celebration Pointe LLC. Located southwest of the main shopping area of Celebration Point and behind the the Regal Cinemas, The Vue is a mix of two-, three- and four-bedroom townhomes with a starting price of more than $400,000. READ MORE | | | | |
