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Today at 10 a.m. ET: House Judiciary Subcommittee Hearing to Examine Key Bankruptcy Issues
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The House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust will hold a hearing today at 10 a.m. ET titled, "Bankruptcy Law: Overview and Legislative Reforms." Among the topics to be addressed are subchapter V and chapter 13 debt eligibility limits, chapter 7 trustee fees/compensation, bankruptcy judgeships, data privacy in bankruptcy proceedings and more. Witnesses include Bankruptcy Judges Michelle Harner (D. Md.) and Paul Black (W.D. Va.), Megan Murray of Underwood Murray (Tampa) and Profs. Melissa Jacoby of the University of North Carolina at Chapel Hill, Douglas Baird of the University of Chicago and Edith Hotchkiss of Boston College. To access a live webstream of the hearing and prepared witness testimony, please click here.
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 | | Editor's Picks |
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New Fortress Energy Pauses LNG Delivery to Puerto Rico over Unpaid Bills
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New Fortress Energy has halted a liquefied natural gas delivery to Puerto Rico, claiming the island’s main power utility owes about $12 million in unpaid bills and interest going back to 2020, finimize.com reported. The company says its contract allows it to pause shipments until it gets paid, citing over $9 million in overdue invoices plus nearly $3 million in interest. READ MORE
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Washington Casino Operator Files for Bankruptcy After Restructuring
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Maverick Gaming, a Washington-based casino and card-room operator, filed for bankruptcy on Monday following a debt restructuring last year, Bloomberg News reported. The company filed chapter 11 in Texas and listed total liabilities and assets in the range of $100 million to $500 million, according to court papers. It owns and operates a portfolio of 27 properties across Nevada, Washington and Colorado, its website showed. READ MORE
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Dr. Phil Launches New Media Venture After Merit Street Media
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Just weeks after filing for bankruptcy on Fort Worth-based Merit Street Media, Dr. Phil McGraw announced the launch of a new media venture, WFAA.com reported. McGraw on Monday announced ENVOY Media Co., a new media venture aimed at delivering live news, original entertainment, and interactive content across traditional and digital platforms. According to a release from the company, the new on-air channel will launch nationally later this month. READ MORE
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 | | Upcoming Events |
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2025 Northeast Bankruptcy Conference and Consumer Forum
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Mount Washington Resort & Spa
July 14-16 | Bretton Woods, N.H.
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2025 Southeast Bankruptcy Workshop
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The Ritz-Carlton, Amelia Island
July 24-27 | Amelia Island, Fla.
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 | | Daily Roundup |
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BlockFi Settles $35 Million with DOJ In Bankruptcy Case
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BlockFi, a prominent cryptocurrency lending platform, has reached a significant milestone in its bankruptcy proceedings, Coin World reported. The company's bankruptcy administrator has finalized a $35 million settlement with the U.S. Department of Justice (DOJ). This settlement resolves a legal dispute stemming from seized cryptocurrency assets, marking a crucial step in BlockFi's ongoing bankruptcy process. READ MORE
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U.S. Judge Extends Argentina’s YPF Handover Deadline by Three Days
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The New York federal judge who gave Argentina until yesterday to cede its controlling stake in YPF SA to holders of a $16 billion judgment granted the South American nation a three-day extension to seek a longer delay from an appeals court, Bloomberg News reported. U.S. District Judge Loretta Preska’s Monday ruling put her June 30 order on a brief hold, but she denied Argentina’s request for a longer stay, saying the nation “continues to delay and circumvent its obligations.” The judge also cited the nation’s failure to post an appeal bond, which is required to stay enforcement of the ruling until the appeal is decided. READ MORE
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Crypto Bills Set to Advance This Week Take Industry Closer to Mainstream
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The crypto industry will take a step closer to going mainstream this week as a series of industry-friendly bills progress through Congress, paving the way for digital assets to potentially be further integrated into traditional finance, Reuters reported. The House of Representatives is set to pass a series of crypto-related bills in a week that the Republican majority has dubbed "crypto week." The most notable is a bill that would establish a regulatory framework for stablecoins, and it is likely to advance to President Donald Trump's desk. READ MORE
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June Produces Mixed Freight Trends, Recovery Remains ‘Elusive’
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Freight volumes remained pressured in June, but expenditures stepped higher again on a year-over-year comparison. Uncertainty around trade policy continues to cloud shippers’ decision-making, extending an already prolonged freight downturn, according to a Monday report from Cass Information Systems, Freight Waves reported. Freight shipments captured by the multimodal index fell 2.4% y/y during the month and were off 0.2% from May (with and without a seasonal adjustment). June marked 29 straight months of y/y declines for the dataset. The y/y decline in June was the smallest in seven months. READ MORE
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Los Angeles Seaport June Imports Rebound as Tariff Worries Loom over U.S. Holiday Season
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Imports to the busiest U.S. seaport in Los Angeles rebounded strongly in June as retailers moved to stock up on goods for the holiday shopping season amid fears of higher tariffs, Reuters reported. The Port of Los Angeles handled 470,450 20-foot equivalent units (TEUs) of incoming cargo last month after the U.S. reached a tariff truce with China. That was almost 10% higher than a year ago and contributed to record total volume for the month, Port of Los Angeles Executive Director Gene Seroka said. READ MORE
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Retail Stores to Increase Prices from Trump Tariffs, Pass on to Consumers
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As retailers navigate the impact of U.S. President Donald Trump’s tariffs, a research analyst expects the price of goods to increase and costs to be passed on to consumers, as companies already face challenges of their own, Bloomberg News reported. Trump recently announced a 20 percent tariff on most Vietnamese exports and a 40 percent levy on any trans-shipments from third countries. Major U.S. apparel and sportswear makers, including Nike, Adidas and Under Armour, had shifted factory production to Vietnam after Trump imposed tariffs on China in his first term. READ MORE
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