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Georgia Dorm Operator Beats Bankruptcy Venue Challenge
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Welcome to WSJ Pro Bankruptcy's Daily Briefing. It's Friday, August 1. In today's briefing, a Delaware judge declined to send a student-housing bankruptcy to Georgia, and Perella Weinberg bought a big player in continuation-fund deals.
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iStockphoto/Getty Images
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Georgia University System can’t boot dorm operator’s case from Delaware. A bankruptcy judge said Thursday that Delaware is the proper venue for the chapter 11 filing of the Georgia subsidiary of military and student housing company Corvias because of its incorporation in Delaware.
The judge said the bankruptcy case aims to restructure the financial affairs of the Corvias unit, not its operation in Georgia, making the geographical location of the student housing less important in determining the correct venue.
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Rafael Henrique/SOPA Images/ZUMA Press
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Perella Weinberg strikes deal for big player in continuation funds. The investment bank has struck a deal for secondary advisory firm Devon Park Advisors, marking marks Perella’s first foray into the market for private-equity continuation vehicles.
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THE WALL STREET JOURNAL
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How companies are dealing with $50 billion of tariffs. Many products that cross the U.S. border—cars, furniture, bluejeans—are subject to customs duties such as tariffs, which President Trump has imposed on a range of imports. In the first half of this year, duties collected by the U.S. have totaled $90.6 billion, more than double the amount for that period in 2024.
Here’s a look at how tariffs are affecting businesses and consumers, based on some of the biggest categories to face new levies.
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KKR gets boost from asset-based lending push. Firm executives on Thursday touted the growth potential of the asset-based lending business, one of several credit sectors where it has been expanding in recent years as mergers and acquisitions remain slow across the globe.
KKR, like other large alternative-asset managers, has expanded its range of products in recent years away from its once-core business of private-equity deals.
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Sophie Park/Bloomberg News
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Millions of student-loan borrowers brace for higher payments. Interest was set to start accruing again Friday for the nearly eight million people enrolled in the Saving on a Valuable Education Plan, or SAVE, after the Trump administration moved to wind down the affordable-repayment option. The Education Department said it is making the change to comply with a federal court injunction that blocked the plan, which was introduced under the Biden administration.
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