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Deacon Construction marks 45th year in business
One of the top commercial construction companies in the Sacramento region, Deacon Construction, marks its 45th year in business in 2026.
Waco roadwork roundup: Twin Bridges traffic shift begins, big changes proposed for I-35 and Business 77
From the Highway 6 Twin Bridges to Interstate 35 and future plans along Business 77, Waco and road construction are going hand in hand this season. State transportation officials are moving forward with major traffic switches and lane closures, while simultaneously planning long-term re-designs to local roadways.
Capitol Hill businesses say sewer project came with little notice, now worry about revenue
Business owners near a Seattle Public Utilites (SPU) project at 12th Avenue and Pike Street, are claiming they got a very short notice, or none at all, about th
NVIDIA GeForce On returns August 25, DLSS 4.5 Ray Reconstruction release expected
NVIDIA will host its Gamescom GeForce On update on August 25. DLSS 4.5 Ray Reconstruction is a likely topic after its files appeared in Modern Warfare 4.
Bipartisan Energy Politics | Reading and Podcast Picks
Reading and Podcast Picks is a collection of what we’ve been reading and listening to over the last week or so about energy topics. In addition to these R&P Picks, paid subscribers receive access to the full archives, Grid Roundups, and select episodes of the Energy Capital Podcast. Please subscribe today. Texans, legislators debate transmission lines at hearing | Texas Tribune “Republican legislators, Democratic statewide candidates, landowners from rural Texas and environmentalists” alike joined together Wednesday to protest the buildout of 765-kV lines across the state. At the protest and nine-hour hearing that followed, lawmakers heard a variety of recommendations, including from local officials arguing for more local control of data center proposals and more time to reform the process behind approving transmission lines across Texas. Though discussed in separate hearings, landowners and protesters said the issues are connected… Regulators have already been working through a new way to decide how much of the cost of building new transmission lines needs to be paid for by individuals and how much needs to be paid for by companies such as data centers. Experts said they believe the new system will lower the burden on residential consumers relative to the industrial groups. Data-Center Backlash Leads to New Land Rush in Texas Oil Patch | The Wall Street Journal While the data center protests rage, investors converge on the Permian Basin to build data centers powered by cheap natural gas. “A lot of places you see all over the country they’re worried about water, they’re worried about power, they’re worried about transmission, and the Permian has all of those things in spades,” said EagleRock Chief Executive Greg Pipkin Jr. Dallas-Fort Worth Dethrones Virginia as the World’s Top Data Center Market | Dallas Innovates Two reports show growth in North Texas data centers despite political concerns about the industry. Boasting five highly ranked data center markets, Texas is experiencing an explosion of data center activity. Long anchored by the DFW market, “the state is growing at a pace that could soon bring total installed capacity in line with — and potentially beyond — that of Virginia,” the Cushman & Wakefield report said. A new report from commercial real estate services provider JLL takes a slightly different view, anointing Texas the top data center market in North America. Texas eclipsed longtime frontrunner Virginia based on the level of existing and under-construction data center inventory in the state as measured by gigawatt capacity. A gigawatt equals 1 billion watts.
Edmond business celebrates end of 11-month road construction project by holding re-launch
Edmond's Danforth and Kelley intersection reopens, giving businesses a much-needed boost after months of construction.
HHSC Reaches Construction Milestone for Panhandle State Hospital | Texas Health and Human Services
HHSC reached a major construction milestone for the 75-bed Panhandle State Hospital in Amarillo after construction crews placed the facility’s final steel beam this week.
Supreme Court's Roberts allows work on Trump’s White House ballroom to continue
The temporary order comes hours before lower-court rulings would have forced a halt to aboveground construction
Supreme Court's Roberts allows work on Trump’s White House ballroom to continue
The temporary order comes hours before lower-court rulings would have forced a halt to aboveground construction
Supreme Court chief justice allows work on Trump’s $400M White House ballroom to continue for now
The temporary order comes hours before lower-court rulings would have forced a halt to aboveground construction.
Cornered by Big Bend backlash, Texas Republicans tread carefully around Trump
Most of the state’s GOP leaders have hedged on the White House's plans for the region, welcoming a construction pause without breaking from a president they're loath to cross.
Iowa Writers’ Workshop professor explores forgotten history
Matthew Neill Null, an Iowa Writers' Workshop professor, has a new novel, “Floodgate,” which centers on the 1960s construction of West Virginia's Summersville Dam and explores themes of labor unions, resource extraction, and the lives of working-class people left behind by progress.
Ormond-by-the-Sea restaurant says A1A construction is hurting business
A Volusia County restaurant says an ongoing road construction project has sharply reduced its parking and is hurting business, while state transportation officials say the changes are intended to improve safety for drivers and pedestrians.
Exclusive: Navy weighs renaming carrier slated to honor Black war hero, potentially switching it to Trump
The US Navy is working to rename an aircraft carrier under construction that was set to honor a Black sailor hailed for his heroic actions during the attack on Pearl Harbor, three sources familiar with internal discussions told CNN.
Business U.S. 20 work in Freeport begins Aug. 24
FREEPORT – The Illinois Department of Transportation announced today that weather permitting, construction Business U.S. 20 (Galena Avenue) will...
A Tale of Two Towns: Why Does Avalon’s Business District Struggle While Stone Harbor’s Thrives?
Avalon and Stone Harbor's business districts were determined by the most consequential construction to ever take place on both halves of Seven-Mile Island: brid...
'Carrick will have variety and options'
Manchester United's midfield reconstruction is nearing completion. After signing Andrey Santos from Chelsea and Youri Tielemans from Aston Villa in the space of 24 hours of each other last month, there has been an element of 'will-they, won't-they' about the past five weeks. Real Madrid's Aurelien Tchouameni was heavily touted, so too Bournemouth's Alex Scott and Roma's Manu Kone.
Q Street reopening delayed again to October, frustrating southwest Omaha business owners
Rainy weather is not what several southwest Omaha business owners want to see. It means another delay on a street construction project that has already slowed customer traffic.
AHA says new legislation would strengthen stroke care and prevention
Sen. Ben Ray Luján, a stroke survivor, introduced the new bill. If passed, it would direct the federal government to study how stroke care is delivered in the United States and fund efforts aimed at improving treatments, data collection and public awareness.
Trump shows off his new helipad, brags about construction projects
For a brief period Wednesday, the president set aside more troubling issues to revel in his role as White House redeveloper.
Trump unveils another construction project and signs piece of new helipad during impromptu tour
President Donald Trump issued an impromptu invitation for reporters to tour the replacement of the White House driveway and his new helipad.
Advocates seek permanent halt to Big Bend border security project
Following bipartisan criticism, the Trump administration has paused a border security project inside Big Bend National Park in West Texas.
Debris Management in Gaza - Standard Operating Procedure: Health and Safety in Debris Removal and Recycling — Interim Guidance (August 2026)
Manual and Guideline in English on occupied Palestinian territory about Climate Change and Environment and Recovery and Reconstruction; published on 19 Aug 2026 by UNDP and UNEP
Waveland experiencing major business boom, waterfront pier reconstruction progress
Waveland is seeing signs of growth, from a new dual-brand hotel to new businesses moving into a familiar spot along Highway 90. And after years of waiting, a damaged city landmark is closer than ever to welcoming the public back.
Major construction continues for UC, Life Science Building, UTA West
Smaller projects are also underway across campus to update study spaces, classrooms, roads and more.
This 23-foot crocodylian may have ruled South America’s food chain
Miocene South America was packed with giant prey—and the predators hunting them were just as spectacular. Fossil bite marks suggest crocodylians, especially the enormous Purussaurus neivensis, were more important predators than mammals in this ancient tropical ecosystem. At around seven meters long, Purussaurus may even have helped control populations of giant herbivores.
County Approves Affordable Housing and Health Facility in Logan Heights
The Board of Supervisors Tuesday approved the construction of 121 affordable homes and a health care facility on surplus County property in Logan Heights. For the first time in the County’s surplus-land housing program, the development includes replacing an aging health clinic on the site.
Overhauled fields, new science labs, moved admin offices — the latest on New Trier renovations
As New Trier High School prepares to begin the new school year, a number of multi-year construction projects at both of the district’s campuses are nearing completion. The School Board and community received an update on the projects from Deputy Superintendent Dr. Chris Johnson during the board’s meeting on Monday, Aug. 17, two days before […]
Three SLO County businesses make list of fastest-growing companies in the country
The companies hail from San Luis Obispo, Paso Robles and Arroyo Grande and specialize in construction, moving and security systems, respectively.
National Symphony Orchestra will play at 6 DC-area venues next season as Kennedy Center shuts
The National Symphony Orchestra will split its 2026-27 season among six venues in Washington, D.C., and its suburbs. The change follows a reconstruction project at the Kennedy Center that was
Construction for new entertainment facility will close stretch of Baldwin County street beginning Monday
The construction is related to the new amphitheater.
Developers secure construction financing for Neyland Entertainment District
Arctos, RVX Ventures, and Magellan Development have secured an undisclosed amount of construction financing for the Neyland Entertainment District that will be built adjacent to the University of Tennessee’s Neyland Stadium.
Roundup: Louisiana International Terminal / Ethane demand / Robot rush
Gateway to growth: The U.S. Army Corps of Engineers has granted the federal permit for the Louisiana International Terminal, clearing the way for construction of a major new container port on the Lower Mississippi River. Backed by Port NOLA, Terminal Investment Limited and Ports America, LIT is designed to handle the world’s largest container ships […]
Trump administration pauses border construction project in Big Bend National Park
The Trump administration says it is temporarily pausing construction of a controversial border construction project in the Big Bend National Park while the head of the agency tasked with building the wall visits Texas to do an “on-the-ground evaluation.”
CBP pauses Big Bend border construction ahead of fact-finding visit
U.S. Customs and Border Protection BP commissioner Rodney Scott wrote on social media Monday he was pausing construction in Big Bend National Park.
Scientists Uncover a Surprising New Route for Stonehenge’s Most Mysterious Stone
Stonehenge’s Altar Stone may have traveled south through a combination of glacial transport and deliberate human movement. Stonehenge was assembled from stones weighing between 2 and 25 tons, an astonishing construction effort for people living before the wheel was invented. Yet the puzzle extends beyond how such massive rocks were raised. Many of the stones
The hidden politics of time: How clocks, calendars — and now-contentious time zones
Experts explore how the social and political construction of time has evolved from ancient natural rhythms to modern standardized systems like time zones and daylight saving time.
Neyland Entertainment District construction commences
Arctos Partners, RVX Ventures, and Magellan Development have secured construction financing for the Neyland Entertainment District, which has led to construction commencing on the development project next to Tennessee's Neyland Stadium.
Severe thunderstorms cause flooding concerns for business
Heavy rain and storm runoff are creating recurring flooding issues for a farm market in Lancaster County, with the owner expressing concerns about nearby construction and its impact on his business.
Community feeling impact of SF's Broadway Tunnel closures as major seismic upgrade project underway
Drivers, residents and business owners are preparing for a potentially challenging Monday commute as a major construction project at San Francisco's Broadway Tunnel gets underway.
Construction for new entertainment facility will close stretch of Baldwin County street beginning Monday
Construction activity related to the new amphitheater is expected to begin
Federal judge clears path for border wall construction in Arizona
A federal judge ruled against a Native American tribe's trespassing claims, citing a 1907 proclamation reserving 60 feet of Arizona border land.
NH's Business: The future of road & highway construction projects across New Hampshire
Fred Kocher sits down with Senator David Watters and Senator Mark McConkey to talk about the future of highway projects across the state
Bipartisan group of Texas lawmakers critical over new border wall Big Bend region construction
Construction is underway in the Big Bend region of Texas amid public concern and after months of rumors.
Scientists Discover a 245-Million-Year-Old Reptile With Its Organs Still Preserved
An international research team examined a unique fossil from China that, for the first time, preserves the digestive system of a marine reptile with a long neck that lived in the oceans 245 million years ago. Inside an almost complete fossil from China, researchers identified the stomach, liver, and intestines of a marine reptile that
Colorado business dealing with repeated flooding, suspects nearby construction could be factor
A downtown Evergreen business is preparing for another round of rain after repeated flooding forced it to close and caused tens of thousands of dollars in losses.
Trump asks Supreme Court to let White House resume ballroom construction during appeal
President Donald Trump's administration has asked the U.S. Supreme Court to allow the White House to resume construction on its $400 million ballroom project while it appeals a lower court's order to halt the work.
Trump asks Supreme Court to let White House resume ballroom construction
An appeals court ruled last week Trump must stop the White House ballroom's construction because Congress has not approved the project
Trump administration asks US supreme court to allow construction of White House ballroom
Administration asks justices to keep appeals court decision to halt work on hold while it prepares a full appeal
Kansas City ends a construction equality program. Business owners want a say on a new one
The city council approved a plan to repeal the city’s 45-year-old Minority- and Women-Owned Business Enterprise Program after a lawsuit from Missouri’s attorney general alleged discrimination against white men. Business owners want input on the new small-business program meant to replace it.
Businesses feel the strain as the deadline for Trump's 50% Canadian tariff approaches
If President Trump's threatened 50% tariffs go through later this month, construction businesses that rely on materials imported from Canada are among those that will suffer.
U.S. Chamber endorses LePage for Congress in Maine
At Sheridan Construction in Fairfield, U.S. Chamber representative Stephen McAllister said the group — the largest business organization in the world — was impressed by LePage’s business background and work to reform the permitting process.
City Glass Marks 75 Years in Business, Reinforcing Its Position as the Best Commercial Glass Company in South Carolina
Anderson, SC, Aug. 13, 2026 (GLOBE NEWSWIRE) -- City Glass, a commercial glass construction and installation company based in Anderson, S.C., is...
Schmieding Foundation Commits $1.5 Million to UAMS Health Orthopaedic & Sports Medicine Hospital
LITTLE ROCK — The Schmieding Foundation, Inc., pledged $1.5 million to the University of Arkansas for Medical Sciences (UAMS) to support construction and activities of the UAMS Health Orthopaedic & Sports Medicine Hospital in Springdale, Arkansas.
Schmieding Foundation Commits $1.5 Million to UAMS Health Orthopaedic & Sports Medicine Hospital
LITTLE ROCK — The Schmieding Foundation, Inc., pledged $1.5 million to the University of Arkansas for Medical Sciences (UAMS) to support construction and activities of the UAMS Health Orthopaedic & Sports Medicine Hospital in Springdale, Arkansas.
WSDG Completes The Kempinski Grand Hotel’s Ultra-Modern Entertainment Venue At Billionaire St. Moritz
Billionaire St. Moritz, an ultra-modern event location directly connected to the historic Grand Hotel des Bains Kempinski, has opened as the ultimate dinner show and clubbing experience in St. | Acoustic and AV technology designers deliver sophisticated room-within-room construction for exclusive dinner show and clubbing experience.
Businesses on Maryland Parkway say road construction is hurting revenue
Business owners near Maryland Parkway and Sierra Vista say ongoing road construction is decimating their revenue.
City Council demands Bally’s restart casino construction
Bally's has threatened legal action if Chicago allows video gambling at bars and restaurants.
Construction on $250M entertainment district near Slugger Field to begin in 2027
Apartments, parking lots, a hotel, restaurants and more could be coming soon to the area right next to Louisville Slugger Field in downtown Louisville.
Downtown business owners plead for help as construction takes toll
Three more downtown business owners told city leaders Tuesday they appreciate the transformation of Broad Street, but are struggling to stay open long enough to see the finished product.
Trump talks about the Reflecting Pool and White House ballroom a lot. Here’s exactly how much
PolitiFact analyzed all of Trump’s public events and speeches over the first seven months of 2026 in which he mentioned his construction projects — including the White House ballroom and Reflecting Pool — and beautifying the nation’s capital.
Tax increment financing approved for Louisville Entertainment District near Slugger Field
The $250 million mixed-use development project was announced in 2024, and it's been a waiting game for construction to start.
Part of G10 parking garage closed as Neyland Entertainment District construction begins
Knoxville, TN News, Weather, and Sports
Leucadia businesses say Highway 101 construction is driving customers away
Businesses along Highway 101 in Leucadia say ongoing construction is driving away customers and creating safety concerns.
Amazon asking town of Niagara for more in sales tax exemptions
Amazon is basing their request off the rising construction costs.
Part of G10 parking garage closed as Neyland Entertainment District construction begins
KNOXVILLE, Tenn. (WATE) — The University of Tennessee has closed part of the G10 parking garage as work begins on the Neyland Stadium Entertainment Project that will transform part of the waterfron…
HeyDay Entertainment’s Norman location to shut down Aug. 28, 2026
HeyDay Entertainment has announced that its Norman location will close on Friday, Aug. 28, 2026, due to the planned highway construction by the Oklahoma Turnpik
Roundup: AI construction jobs / Jalapeño recall / US battery production
BlackRock partnership: BlackRock and its AI Infrastructure Partnership are partnering with North America’s Building Trades Unions to connect upcoming data center and energy projects with skilled construction workers. The agreement aims to address labor shortages while promoting fair wages, job protections and training, amid concerns about AI’s impact on employment and communities affected by large […]
Trump admits 'contractor error' on Lincoln Memorial Reflecting Pool
For the first time, Trump admitted there was a construction error on the Lincoln Memorial Reflecting Pool, which is seeing another round of costly renovations.
What’s that construction in Modesto? New housing, sewer lines and more
Progress is continuing on the Bridges development in the Kiernan Business Park, the River Trunk Pump project and JS West’s new headquarters.
Ergin 'Batman' Tek calls for small business push to rebuild middle class, construction of Tampa Bay Flood Barrier
'While we have the best healthcare in the world, what good does it make if we can’t afford it?'
Nemaha Sports Construction claims Class B Legion state title
Highlights from Nemaha Sports Construction's (Lincoln Christian) Class B State Legion Championship victory.
‘It’s been chaotic’: Trump’s immigration crackdown prompts worries from industry groups
Industry groups ranging from construction to agriculture are raising concerns with the Trump administration over its ongoing immigration crackdown, arguing it is undercutting President Donald Trump’s agenda and weakening the economy, according to multiple groups who spoke with CNN and sources close to the White House.
New construction is changing busy upper Peach Street corridor
Expanded and remodeled space will accommodate as many as six new businesses. And an established car wash is being updated.
Arkansas State University System trustees approve $18 million for Newport health science center
The Arkansas State University System Board of Trustees on Friday unanimously approved an $18 million budget for the construction of a new health science center at its Newport campus.
East Austin business owner impacted by construction
One East Austin business owner says construction near her restaurant is making it harder for customers to get to her business and its hurting sales.
Avon farm owner says road construction project threatens nearly 175-year-old business
The fifth-generation owner of Pickering Hill Farms says a road construction project on Detroit Road has blocked access to his parking lot for more than 100 days, cutting into business during the farm’s peak season.
Appeals court rules White House ballroom needs congressional approval
The court ordered the Trump administration to halt construction of its $400 million ballroom
Appeals court rules White House ballroom needs congressional approval
The court ordered the Trump administration to halt construction of its $400 million ballroom
Appeals court rules White House ballroom needs congressional approval
The court ordered the Trump administration to halt construction of its $400 million ballroom
Trump must halt ballroom construction, appeals court says
The order will take effect in two weeks, allowing the White House to appeal to the Supreme Court
US economy unexpectedly shed jobs in July
The Labor Department released the July 2026 jobs report, which showed the U.S. economy shed jobs unexpectedly last month amid uncertainty over inflation.
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. 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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. 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