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ABI Journal: Making Parallel Crypto Liquidations in the U.S. and Bermuda Work
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The authors of this ABI Journal article share how their firms worked together in representing Block Fi International Ltd’s joint provisional liquidators (JPLs) in the BlockFi case, which, in the intervening two-and-a-half years, has become something of a poster child for how different jurisdictions with different underlying regimes can, by taking an innovative approach, work together to achieve the best outcome for stakeholders. READ MORE
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 | | Editor's Picks |
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Houston’s Sunnova Energy to Sell Assets in $118M Bankruptcy Deal
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Houston solar company Sunnova Energy can proceed with the sale of almost all of its assets to a group of lenders and entities controlled by GoodFinch Management, a climate-focused investment firm, a bankruptcy judge ruled yesterday, the Houston Chronicle reported. Sunnova filed for chapter 11 protection in June, soon after laying off more than half of its workforce in a last-ditch bid to cut costs. (Subscription required.). READ MORE
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End of Rochester Diocese Abuse Case Appears in Sight
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After a six-year slog that included several setbacks, the hundreds of victims of sexual and physical abuse by local priests and others see the end of the Roman Catholic Diocese of Rochester bankruptcy within sight, the Rochester Beacon reported. “I have positive things in front of me,” Carol DuPré, an abuse survivor, said after a hearing in bankruptcy court on Tuesday. READ MORE
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Georgia University System Can’t Move Dorm Operator’s Bankruptcy Case From Delaware
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A bankruptcy judge denied the University System of Georgia’s request to transfer the chapter 11 case of its student housing operating partner to Georgia from Delaware, WSJ Pro Bankruptcy reported. Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court in Wilmington, Del., said in her bench ruling on Thursday that Delaware is the proper venue for the chapter 11 filing of the Georgia subsidiary of military and student housing company Corvias because of the unit’s incorporation in Delaware. (Subscription required.) READ MORE
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 | | Daily Roundup |
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Millions of Student-Loan Borrowers Prepare for Higher Payments
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Millions of student-loan borrowers are bracing for significantly higher monthly payments after the Trump administration moved to wind down one of the federal government’s most affordable repayment options, the Wall Street Journal reported. Interest was set to start accruing again Friday for the nearly eight million people enrolled in the Saving on a Valuable Education Plan, or SAVE. The Education Department said it is making the change to comply with a federal court injunction that blocked the plan, which was introduced under the Biden administration. (Subscription required.) READ MORE
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U.S. Job Growth Slows in July, Unemployment Rate Ticks Higher
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U.S. job growth slower much more than expected in July, and the data from the prior month was revised sharply lower, Reuters reported. Nonfarm payrolls increased by 73,000 jobs in July, after rising by a downwardly revised 14,000 in June, the Labor Department data showed on Thursday. READ MORE
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Analysis: The Condo Market Is Floundering
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Condo sellers haven’t faced a market this weak in more than a decade, according to a Wall Street Journal analysis. Prices are down, supply is up and sellers often feel lucky to get an offer, especially in the South. In several parts of the country, prospective buyers hold most of the cards. They are often winning concessions from sellers eager to unload condominiums that are likely facing rising homeowner-association dues, in part because of higher insurance costs. (Subscription required.) READ MORE
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Newsom Seeks $18 Billion for Utilities’ Wildfire Fund as California Faces Future Blazes
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California Governor Gavin Newsom (D) is circulating a legislative proposal to shore up a state fund for utilities that’s at risk of being depleted following the deadly wildfires that struck Los Angeles County in January, Bloomberg News reported. The plan would channel an additional $18 billion to the wildfire fund, almost doubling the current commitments, said people familiar with the matter. Electricity ratepayers would contribute half the money through a monthly fee while the other half would come from three utility companies that benefit from the fund, Edison International, PG&E Corp. and Sempra, the people said. (Subscription required.) READ MORE
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