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Wildlife experts share new details on Jackie the bald eagle’s health before her death
As the Big Bear community and wildlife enthusiasts around the world continue to mourn the death of Jackie, many still have questions about what happened to the famous bald eagle and what’s ne…
Panthers Might Be Without WR Xavier Legette For Preseason Opener
Carolina Panthers wide receiver Xavier Legette might not be playing in Saturday’s preseason game at the Buffalo Bills after suffering a stinger early in training camp.
Why Were Polls So Wrong in the Wisconsin Governor’s Race?
Francesca Hong, the democratic socialist running in Wisconsin’s Democratic primary for governor, had a double-digit lead in polls as recently as last week. Then she lost. What happened?
Local Business Spotlight: Schroeder Short Stop
A year after opening its bar on the West End of Cook County, the Schroeder Short Stop continues to grow, adding new food and drink options and expanding its staff. Owners Tim Saetre and Emma Sievers opened the Schroeder Short Stop bar just over a year ago, adding to their existing Electric Trails e-bike rental...
Tiger Woods Announces Personal News After Recent Business Development
Tiger Woods shared his personal outlook Tuesday regarding Trout National. The course opened April 15. It is his years-long collaboration with Los Angeles Angels star Mike Trout.Woods was out of the country during the opening. He was undergoing rehab in Zurich.“From vision to reality,” he said. “It has been incredibly rewarding to work alongside @miketrout , John […] The post Tiger Woods Announces Personal News After Recent Business Development appeared first on HEAVY.
LeBron James, 76ers Set for Emotional Home Opener Against Cavaliers
LeBron James will be facing the team that drafted him in his first game at Xfinity Mobile Arena. This will be a homecoming like no other.
QBs Drake Maye, Daniel Jones to sit for Patriots-Colts preseason matchup
Daniel Jones and Drake Maye both had highlights during the joint practice between the Colts and Patriots. But practice is all the quarterbacks will be doing as the teams prepare to meet in their preseason opener.
Whitfield's expanding their business into a brick and mortar
Whitfields is a new restaurant in Akron which originally solely operated through social media. Cooking meals at home, and gaining their following plate by plate now has officially opened a store front in the heart of the city.
Whitfield's expanding their business into a brick and mortar
Whitfields is a new restaurant in Akron which originally solely operated through social media. Cooking meals at home, and gaining their following plate by plate now has officially opened a store front in the heart of the city.
Phantom Blade Zero pre-orders now available, 11-minute trailer; dedicated State of Play set for August 17
S-GAME has opened pre-orders and released an 11-minute trailer for Wuxia action RPG Phantom Blade Zero.
Phantom Blade Zero pre-orders now available, 11-minute trailer
S-GAME has opened pre-orders and released an 11-minute trailer for Wuxia action RPG Phantom Blade Zero.
My partner is monitoring his sleep score, steps and fibre intake. He has become a dry shite
Tell Me About It: What happened to spending half the day in bed, eating chocolate, wine and olives?
Mason Rudolph Doesn’t Hold Back About Former Steelers Coaches
New Pittsburgh Steelers head coach Mike McCarthy has dedicated himself to developing the team’s quarterbacks, which is a welcome sight for Mason Rudolph, who opened up about the lack of tutelage under the previous coaching staff.“He brings a level of expertise that I just have not been around,” Rudolph told reporters, including Gerry Dulac of […] The post Mason Rudolph Doesn’t Hold Back About Former Steelers Coaches appeared first on HEAVY.
Drive-through coffee truck opens for business in Manchester
A mother and son have opened a mobile coffee business in Manchester, bringing specialty drinks to Clay County residents. Donna and Jordan Jackson launched the Mountain Mug Coffee Truck on Tuesday.
It’s Kyler Murray’s Team Now, for Better or Worse
The Vikings have finally announced the results of the team’s contentious quarterback competition, and according to ESPN’s Adam Schefter, Kyler Murray has been named the Week 1 starting quarterback for the 2026 season, putting an end to the much-talked-about position battle and handing the keys to the Vikings offense to the former Cardinals veteran. After an open battle to start camp got going, Murray put distance between himself and now-backup quarterback J.J. McCarthy over the past few weeks, and while there were some recent struggles that might have put into question Murray’s lead in the QB race, it ultimately didn’t matter to the Vikings brass, who felt they needed to make a decision before the Vikings’ preseason opener against the Giants this Saturday.
Knicks championship opener vs LeBron's 76ers draws huge ticket prices
Ticket prices are expected to skyrocket when the world champion New York Knicks open their season against the new-look Philadelphia 76ers.
Mike McCarthy shares key update on Steelers rookie Max Iheanachor
Mike McCarthy provided an update on first-round draft pick Max Iheanachor as the Pittsburgh Steelers prepare for their preseason opener.
Bills DC Leonhard expects defensive starters to play in preseason opener
Jim Leonhard expects his defensive starters to play in the Buffalo Bills’ preseason opener against Carolina on Saturday.
Rossford business owners cheer roundabout project's completion
After two months of work, a new roundabout in downtown Rossford has officially opened. The $2.8 million roundabout at the State Rt. 65 (Dixie Highway), ...
Crash closes southbound U.S. 41 Business in Venice
The incident happened about 6:45 a.m. at the intersection of U.S. 41 and San Marco Drive.
Business Chief Opens Speaker Applications for CXO Summit 2026
London, 11 August 2026 - Business Chief, a BizClik Media brand, has opened speaker applications for the CXO Summit 2026, inviting Chief HR Officers, People & Culture Leaders, Chief Marketing Officers, Chief Finance Officers and CEOs to join its flagship executive event. The summit, which brings together C-suite leaders to address critical challenges facing modern enterprises, from AI disruption to economic uncertainty. The event has already secured an impressive lineup of speakers from global or
DiJonai Carrington shares the real reason behind her hard foul on Sophie Cunningham
Chicago Sky guard/forward DiJonai Carrington opened up on why she committed the Flagrant 2 foul on Sophie Cunningham that got her ejected from their last game. Carrington swiped Cunningham out of the air on a layup attempt at the end of the first quarter of the Sky’s 86-90 loss to the Indiana Fever on Saturday.
Dodgers Secure Series Opener Against Royals on Skubal's Home Debut
The Los Angeles Dodgers get off on the right foot, beating the Kansas City Royals in Tarik Skubal's home debut.
Phillies survive extremely shorthanded bullpen for win over Cards
The Phillies held on to win 6-5 in the series opener in St. Louis.
Bengals reveal jersey combo for preseason opener vs. Lions
The Bengals will wear familiar jerseys in Week 1 of the preseason.
2 fatally shot while leaving business on Chicago's South Side, police say
Three suspects opened fire on two people as they left a business Monday evening on Chicago's South Side, killing both victims, authorities said.
'Game of Thrones' fans gush over 'Mad King' at Royal Shakespeare Theatre
"Game of Thrones: The Mad King," the first stage adaptation of writer George R. R. Martin's bestselling fantasy saga, opened Saturday at the Royal Shakespeare Theatre with Martin — and rapturous fans — in attendance.
The science behind tomatoes and better health
Tomatoes contain lycopene and other nutrients linked to heart and prostate health. Learn the science and how to add tomatoes to your diet.
The science behind tomatoes and better health
Tomatoes contain lycopene and other nutrients linked to heart and prostate health. Learn the science and how to add tomatoes to your diet.
Woman’s Perinatal Mental Health Unit leads a new approach to maternal mental health
The Perinatal Mental Health Unit at Woman’s Hospital is being honored with a Community Impact Award for its work establishing mental health care for pregnant and postpartum women. The award is part of Business Report’s inaugural Excellence in Healthcare Awards. The hospital opened the Perinatal Mental Health Unit, Louisiana’s first inpatient psychiatric unit dedicated exclusively […]
Brad Pitt no longer sober, talks feeling 'suicidal' amid family drama
Brad Pitt opened up about his mental health journey amid his legal troubles with ex-wife Angelina Jolie in a new interview with Esquire.
PHOTOS : Science Stroll Draws Crowd To Woods Hole
Woods Hole was buzzing with curiosity during the annual Science Stroll, as families filled the village for hands-on activities and a look at the ocean science happening in their own
Ravens' practice schedule before preseason opener vs. Eagles
The Ravens will hold three practices and a Friday walkthrough before hosting the Eagles in Saturday night’s preseason opener
UConn Football Not Worried About State of Quarterback Battle Yet
With less than one month until the regular season opener, new head coach Jason Candle isn't rushing to name a starting signal-caller.
Google Play Store starts distributing third-party Android app stores – here’s how it works [Gallery]
Google has opened the floodgates, with third-party app stores on Android now showing up in the Play Store in the US.
2026 Season Opener Countdown: 34 Days Remaining
We continue our countdown to the Panthers opening the 2026 season against the Chicago Bears
New York Giants resume training camp in East Rutherford
The New York Giants are back home in East Rutherford, where training camp will resume ahead of Saturday's preseason opener.
Ball wants improvement as Torquay start with draw
Torquay United manager Jimmy Ball says his side's second-half performance cost them as they drew 1-1 with Horsham in their National League South opener.
Colts’ Shane Steichen reveals preseason opener plan at QB
Colts head coach Shane Steichen has a plan at QB for preseason.
CCTV+: Int'l Congress of Basic Science opens in Beijing
BEIJING, Aug. 9, 2026 /PRNewswire/ -- The 2026 International Congress of Basic Science (ICBS) opened in Beijing on Sunday, drawing more than 1,000 participants, including scientists, researchers and young scholars from both China and abroad.
Saudi Entertainment Ventures opens first Seven entertainment destination
Saudi Entertainment Ventures has opened Seven Abha, marking the first operational destination in its planned nationwide portfolio of integrated entertainment centres.
Scientists Catch a Hidden Electronic State Forming Almost Instantly
Researchers observed a hidden state triggered by light forming within 30 femtoseconds. A pulse of light sent a metal-organic framework into a hidden electronic state in just 30 femtoseconds. By watching the transformation almost as it happened, researchers uncovered a fleeting intermediate stage that appears to guide the material into its new state. The work
The Real Purpose of Rams' Preseason
The Los Angeles Rams have taken a cautious approach to the preseason, and in 2026, that strategy should continue. The Rams rely on training camp, Woodland Hills sessions and joint practices to sharpen their top players before the opener. The same likely goes for most starters, including stars such as Puka Nacua and Myles Garrett.
You can now stream PS Plus games to Steam Deck without owning a PS5 - and without buying a PS Portal
A new cloud-streaming app that lets players stream PlayStation games to their Steam Deck and Steam Machine without a PS5 has just opened a playtest.
The world's leading AI companies struggle to contain latest models
There's been a recent string of cybersecurity incidents among the world's leading AI models. Here's a look at what's happened.
Rep. Alexandria Ocasio-Cortez opens up about decision to freeze her eggs
Rep. Alexandria Ocasio-Cortez, D-N.Y., opened up Sunday about her decision to begin freezing her eggs.
Beijing hosts basic science gala, honors 9 pioneers with new medal
The 2026 International Congress of Basic Science (ICBS) opened Sunday at Beijing's Huairou Science City, awarding its inaugural Basic Science Medal to nine scientists whose research spans algebraic geometry, particle physics, flexible electronics and
Patriots Forced Into Major Gillette Stadium Change Before Preseason Opener
The New England Patriots are installing new turf at Gillette Stadium after the initial surface failed NFL testing before Thursday’s Colts game.
More Penei Sewell trick plays coming in 2026?
Detroit Lions coach Dan Campbell hinted that more trick plays involved Penei Sewell could be coming in 2026.
FULL SHOW: Inside INdiana Business 8/9/26
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2026 Season Opener Countdown: 35 Days Remaining
We continue our countdown to the Panthers opening the 2026 season against the Chicago Bears
Watchdog for $46 billion tribal gambling industry can't enforce the law without a chairperson
The Iowa Tribe of Oklahoma opened its new Harrah’s-branded casino in April.
View From The Dolan: Gladiators Fighting Dragons
Ben took in Reading’s season opener at Bromley from sunnier climes.
CCTV+: Int'l Congress of Basic Science opens in Beijing
The 2026 International Congress of Basic Science (ICBS) opened in Beijing on Sunday, drawing more than 1,000 participants, including scientists, researchers and young scholars from both China and abroad.
CCTV+: Int'l Congress of Basic Science opens in Beijing
/PRNewswire/ -- The 2026 International Congress of Basic Science (ICBS) opened in Beijing on Sunday, drawing more than 1,000 participants, including...
CCTV+: Int'l Congress of Basic Science opens in Beijing
The 2026 International Congress of Basic Science (ICBS) opened in Beijing on Sunday, drawing more than 1,000 participants, including scientists, researchers and young scholars from both China and abroad.
Photo | Dappled light peaks through UC Santa Cruz forest
Late afternoon sunlight through the forest at UC Santa Cruz creates a pattern of illumination on the Physical Sciences Building on Science Hill. Opened in 2006 atop the university’s Science Hill, this five-story building provides 132,000 s…
Fauci Contempt Vote Reflects the Enduring Politics of COVID
Experts say the focus on COVID grievances shows that some wounds it opened were never closed
Sisters partner to bring an exciting new business to Jackson
The Beauty Social Club and Truly Yours Boutique officially opened their doors Saturday with a champagne bar, hair tinsel, and exclusive shopping.
Will Kyle Shanahan coach 49ers in preseason opener vs. Titans?
San Francisco 49ers head coach Kyle Shanahan hasn't been coaching the team after his accident, but he will lead them against in the preseason opener.
Ranking Georgia football home games from worst to best
Georgia hosts seven home games in 2026. We rank all the matchups from the Oklahoma showdown to the season opener.
Sports memorabilia, frame shop latest addition to downtown Redding
This week in the Buzz. This husband-and-wife team has opened two businesses downtown. An update on Mount Shasta Brewing in Siskiyou County.
Pirates lose their fourth in a row as Carmen Mlodzinski struggles in his first start since May
If the Pirates hoped to rid the stench of their disappointing road trip around the Midwest, Friday night’s series opener against the New York Mets...
Sophie Cunningham and the Fever are focusing on basketball. Does anyone care?
The Fever and Aces played a highly entertaining basketball game Thursday night. Though other things happened around the basketball part.
Country music families confront divorce, betrayal and painful health struggles
Keith Urban, Jelly Roll, Bunnie Xo and Gracie McGraw each faced emotional turning points this week as they opened up about heartbreak, healing and moving forward.
Speeding driver plows through South St. Louis County sidewalk, foot from crashing into a business
St. Louis County Police said the incident happened around 2:40 a.m. Aug. 7. The driver admitted to speeding and losing control to officers on the scene, according to a statement from police.
Colts CB Cam Taylor-Britt suspended one game
The Colts won't be able to put cornerback Cam Taylor-Britt in the lineup for their season opener against the Ravens.
Growing the Game Has Never Felt More Meaningful
Fast-forward almost 30 years, and here I am playing a major role in influencing the next generation of golfers: Being named a national ambassador for Youth on Course. From that gritty Leisure Time course to playing some of the top-ranked golf courses in the country, working alongside the top golf coaches in the world, and even hitting balls next to Tiger Woods and his son Charlie (seriously, here's proof!), this sport has opened so many doors for me. Just like I did nearly 30 years ago with my dad and Uncle Chris, I can create experiences that, hopefully, stick with them for the rest of their lives, too.
Browns DBs Coach Praises Denzel Ward's Character Following Record Extension
Add Denzel Ward's position coach to the list of people who are ecstatic to see the Cleveland Browns' superstar cornerback locked in for the next two years. Browns DBs coach Brandon Lynch opened up about Ward's recently signed two-year extension that made him the highest-paid cornerback by annual average value. Ward signed a two-year extension worth $62.2 million, a $31.1 million AAV.
Quiz: Test your knowledge of Wales' sporting week
How much attention have you paid to what has happened in Welsh sport over the past seven days?
Business Restructuring Review Vol. 25 No. 4 July-August 2026
In This Issue New York Bankruptcy Court: Premature Allegations of Creditor Mistreatment Insufficient to Deny Chapter 15 Recognition of Foreign Restructuring Proceeding In In re ARD Finance, S.A., No. 25-12794 (MG), 2026 WL 817458 (Bankr. S.D.N.Y. Mar. 25, 2026), the U.S. Bankruptcy Court for the Southern District of New York was presented with a petition seeking chapter 15 recognition of Luxembourg's recently enacted bankruptcy law governing judicial reorganization proceedings. The court granted the petition, turning aside challenges to recognition voiced by a creditor group arguing that recognition should be denied based upon allegations of unfairness to creditors in the Luxembourg proceeding that would make recognition manifestly contrary to U.S. public policy. According to the bankruptcy court, recognition was warranted because: (i) the rules and procedures governing the proceeding under Luxembourg law were fundamentally fair; (ii) the petition otherwise satisfied chapter 15's recognition requirements; and (iii) the creditor group's allegations were premature, given the fact that the Luxembourg court presiding over the debtor's restructuring proceeding had not confirmed a restructuring plan, and all creditors had the right to participate fully and voice their objections in the proceeding (including the right to appeal an order approving a plan). [read more …] Florida Bankruptcy Court Examines Scope of Discovery in Chapter 15 Cases In In re Banco Master, S.A., No. 25-24568-SMG, 2026 WL 931729 (Bankr. S.D. Fla. Apr. 6, 2026), the U.S. Bankruptcy Court for the Southern District of Florida granted in part and denied in part post-recognition motions filed by an insider of a foreign debtor seeking to bar or limit discovery sought by the debtor's foreign representative concerning allegedly voidable transfers involving the debtors' U.S. real property. According to the court: (i) although chapter 15 includes its own discovery provisions among the relief that may be granted to a foreign representative, the expansive discovery available in cases under other chapters of the Bankruptcy Code is also available in chapter 15 cases; (ii) the discovery sought by the foreign representative was permissible; (iii) discovery regarding matters that were the subject of a pending adversary proceeding had to be undertaken under the more restrictive rules applicable to such proceedings; and (iv) a discovery request would be barred to the extent that it sought production of documents or testimony from a subpoenaed entity that exceeded the geographic limitations specified in such rules. [read more …] Delaware District Court Affirms Chapter 15 Recognition Order Enforcing Nonconsensual Third-Party Releases In U.S. Int'l Dev. Fin. Corp. v. Credito Real S.A.B. de C.V. SOFOM, E.N.R. (In re Credito Real S.A.B. de C.V. SOFOM, E.N.R.), 677 B.R. 192 (D. Del. 2026), appeal filed, No. 26-2356 (3d Cir. June 5, 2026), the U.S. District Court for the District of Delaware affirmed a bankruptcy court order granting chapter 15 recognition to a Mexican "concurso mercantile" proceeding and enforcing nonconsensual third-party releases approved by the Mexican court. Agreeing with the bankruptcy court that the releases were not manifestly contrary to U.S. public policy, the district court concluded: "It is well settled that U.S. bankruptcy courts can give effect to foreign orders in recognized foreign proceedings pursuant to the authority granted in Chapter 15, even when those orders contain relief unavailable under U.S. law. [The appellant's] arguments misconstrue the Supreme Court's narrow holding in Purdue, applicable in Chapter 11 cases, as well as the statutory framework of Chapter 15 and its core policy objectives. Accordingly, I will affirm the Enforcement Order." The ruling has been appealed to the U.S. Court of Appeals for the Third Circuit. [read more …] Fifth Circuit: Bankruptcy Court, Not State Court, Had Jurisdiction to Allow or Disallow Administrative Expense Claim In Storey Minerals Ltd. v. EP Energy E&P Co., LP (Matter of EP Energy E&P Co., LP), 169 F.4th 609 (5th Cir. 2026), the U.S. Court of Appeals for the Fifth Circuit affirmed lower courts' rulings disallowing a creditor's administrative expense claim. It also rejected the creditor's argument that, because the claims were predicated on state law, a state court should adjudicate the merits of the state law causes of action before the bankruptcy court could allow or disallow the claim as an administrative expense. According to the Fifth Circuit, even though the causes of action were based on state law, the bankruptcy court had jurisdiction to determine whether the creditor's claims should be conferred with administrative expense priority in the debtors' chapter 11 case. [read more …] New York Bankruptcy Court: Dismissal of Involuntary Chapter 11 Case Filed Prior to Commencement of Foreign Restructuring Proceeding Unwarranted In In re Xinyuan Real Estate Co. Ltd., No. 25-10745 (PB), 2026 WL 592250 (Bankr. S.D.N.Y. Mar. 3. 2026), the U.S. Bankruptcy Court for the Southern District of New York considered the bona fides of an involuntary chapter 11 petition filed by certain holders of U.S. dollar-denominated notes against a holding company for a group of Chinese property development companies that filed a restructuring proceeding in the Cayman Islands after the noteholders filed the involuntary chapter 11 petition. The court denied the debtor's motion to dismiss the chapter 11 case. Given the timing of the filing of the Cayman Islands restructuring proceeding, the absence of any progress in the proceeding for seven months, the debtor's need to restructure notes governed by U.S. law, and the debtor's lack of any meaningful contacts to the Cayman Islands, dismissal of the chapter 11 case was unwarranted under the applicable provision of the Bankruptcy Code, international comity, or the doctrine of forum non conveniens. [read more …] Bankruptcy Court Evaluates Trustee's Authority to Sell Avoidance Actions and Right of Target Defendants to Object In In re Law Enf't Officers Sec. Union, No. 24-70277-JAD, 2026 WL 560452 (Bankr. W.D. Pa. Feb. 27, 2026), a chapter 7 trustee sought court approval to sell certain avoidance actions to a creditor of the debtor's estate. Potential targets of the subject avoidance actions objected, arguing that such claims were nontransferable powers of the trustee rather than saleable estate property and urging the court to approve their competing settlement with the trustee. The U.S. Bankruptcy Court for the Western District of Pennsylvania disagreed with the potential defendants, holding that they lacked standing to object to the proposed sale, that avoidance actions are indeed estate property, and that the sale—rather than the settlement—best served the estate's interests. [read more …] U.S. Supreme Court Bankruptcy Roundup in Brief In Keathley v. Buddy Ayers Construction Inc., No. 25-6, 2026 WL 1686028 (U.S. June 11, 2026), the U.S. Supreme Court overturned a Fifth Circuit decision judicially estopping a chapter 13 debtor from asserting a personal injury claim against a construction company because the debtor failed to disclose the claim during his bankruptcy case. In so ruling, the Court held that "[t]he Fifth Circuit erred by artificially narrowing its inquiry to whether the debtor had knowledge of the underlying facts or a potential motive to conceal the claim." It represents the first time that the Court has applied judicial estoppel in the bankruptcy context, although it has suggested in other contexts that it may be inappropriate where an inconsistent legal position resulted from "inadvertence or mistake." Also in June, the Court denied petitions for certiorari in a few notable bankruptcy cases. [read more …] Newsworthy Heather Lennox (Cleveland/New York) (Star Individual), Bruce Bennett (Los Angeles) (Senior Statesperson), Kevyn D. Orr (Washington) (Eminent Practitioner), Gregory M. Gordon (Dallas) (Band 1), Carl E. Black (Cleveland), Corinne Ball (New York) (Senior Statesperson), Brad B. Erens (Chicago), Jeffrey B. Ellman (Atlanta), T. Daniel Reynolds (Cleveland), and Dan T. Moss (Washington/New York) were recognized as leading lawyers in the practice area Bankruptcy/Restructuring in the 2026 edition of Chambers USA: The World's Leading Lawyers for Business. The 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers ranked the following lawyers: Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington). Fabienne Beuzit (Paris) and Jasper Berkenbosch (Amsterdam) were among the "Leading Individuals" ranked in the 2026 edition of The Legal 500 EMEA guide in the field of Restructuring and Insolvency or Insolvency. Rodolphe Carrière (Paris) was named a "Next Generation Partner" in the practice area Insolvency. Sid Pepels (Amsterdam) was selected by Global Restructuring Review's 40 under 40 2026. He was identified as a Rising Star within the global cross-border restructuring community. Global Restructuring Review is a leading digital subscription service, news outlet, and information platform dedicated exclusively to cross-border insolvency and corporate restructuring law. Fabienne Beuzit (Paris), Rodolphe Carrière (Paris), and Isabelle Maury (Paris) were recognized in the 2027 edition of The Best Lawyers in France™ in the practice area Insolvency and Reorganization Law. An article written by Corinne Ball (New York) titled "Comity and Fairness are Critical to Granting Additional Assistance under Chapter 15: A Canadian Reverse Vesting Order and Related Releases in Proceedings Involving Canadian and U.S.-Affiliated Companies Are Approved" was published in the June 24, 2026, edition of the New York Law Journal. An article written by Caitlin K. Cahow (Detroit) titled "New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions" was published on June 8, 2026, in Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on June 16, 2026, in the Harvard Law School Bankruptcy Roundtable. An article written by Dan T. Moss (Washington/New York), Corinne Ball (New York), Isel M. Perez (Miami), and David S. Torborg (Washington) titled "Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief" was published on June 10, 2026, in Lexis Practical Guidance. An article written by Daniel J. Merrett (Atlanta) and Nathaniel Parr (Atlanta) titled "Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions" was published on June 11, 2026, in Lexis Practical Guidance. An article written by Corinne Ball (New York) titled "LMEs, Sophisticated Investors and Equitable Mootness: The Fifth and Third Circuits Warn Against Testing the Limits of Chapter 11" was published in the June 2026 issue of the American Bankruptcy Institute Journal. Nicholas J. Morin (New York) was quoted in an article titled "Serta Ruling Offers Damages Road Map in Lender-on-Lender Disputes," published by Bloomberg Law on July 7, 2026. The article discussed U.S. Bankruptcy Judge Christopher Lopez's July 7, 2026, ruling that participating lenders in Serta Simmons Bedding's 2020 non-pro rata uptier exchange breached the credit agreement's ratable-sharing provision, and awarding excluded lenders more than $261 million in damages. The opinion resolves six years of litigation related to Serta's 2020 transaction, where it raised $200 million in new financing and exchanged $1.2 billion of term loans for $875 million in superpriority debt. Judge Lopez found that the debt-for-debt exchange constituted a "payment" under the credit agreement, requiring proportional sharing among lenders, and dismissed various defenses raised by the participating lenders. The case is Serta Simmons Bedding LLC v. AG Centre Street Partnership (In re Serta Simmons Bedding LLC), 2026 WL 1968535 (Bankr. S.D. Tex. Jul. 7, 2026). The New York Law Journal has recognized Andrew M. Butler (New York) as a 2026 "Rising Star" in Restructuring/Bankruptcy as part of the New York Legal Awards. The Rising Star category recognizes New York's most promising lawyers age 40 and under who have distinguished themselves through exceptional legal work, leadership, and contributions to the profession. Lawyer Spotlight: Daniel J. Merrett Dan Merrett, a partner in the Atlanta Office, has spent nearly 20 years representing all manner of stakeholders in complex corporate restructurings and chapter 11 reorganizations. His practice extends to related transactions and disputes involving acquisitions; divestitures; credit facilities; securities; environmental obligations; and vendor, employee, and governance matters. Dan has substantial experience managing mass tort liabilities, including the restructurings and related chapter 11 cases of affiliates of Georgia Pacific and Johnson & Johnson, implemented to resolve asbestos and talc liabilities. He also represents key parties in energy and infrastructure matters, including facility owners, EPC contractors, and joint-venture parties. Dan was a key player in the restructuring teams in the historic bankruptcies of the City of Detroit and Chrysler. His other significant representations in chapter 11 cases include AFA Foods, Alpha Natural Resources, Dana Corporation, M&G Chemicals, McDermott International, Monster/CareerBuilder, Transtar Industries, and Westinghouse. He is licensed in both the United States and England & Wales and recognized in restructuring by Chambers USA and Best Lawyers.
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Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
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