U.S. Bankruptcy Court Judge Robert J. Faris has ordered Imperial Pacific International to show cause why its chapter 11 bankruptcy case should not be dismissed or converted to chapter 7, Marianas Variety reported. Judge Faris wants IPI to provide proof that it has renewed or replaced its recently expired liability insurance policy by June 19. If not, he said the court will enter an order dismissing IPI’s case without further notice or hearing. IPI operated a casino on Saipan for four years until the COVID-19 pandemic forced its closure in March 2020.

Thailand has reached a major aviation milestone as Thai Airways International triumphantly exits its court-supervised debt restructuring program after four challenging years, following official approval from the Central Bankruptcy Court in Bangkok, Travel and Tour News reported. This crucial court decision not only restores the national carrier’s financial stability but also paves the way for the resumption of trading on the stock market, renewed investor confidence, and Thailand’s strengthened position in the global aviation industry.

Hozon New Energy Automobile, the owner of the Neta electric vehicle brand, has officially entered the bankruptcy review process, according to a notice posted on China’s centralized information platform on bankruptcy cases, YiCai Global reported. The National Enterprise Bankruptcy Information Disclosure Platform updated its information about Hozon Auto on June 13, adding Zhejiang Zicheng Law Firm as the administrator, the main person in charge of the administrator, and other data.

The recent bankruptcy of Marelli, a supplier of automotive components, has sent shockwaves through the global automotive industry, MSN.com reported. This event marks one of the first major corporate failures triggered by the new tariffs imposed by Donald Trump's administration. Marelli's collapse directly impacts Stellantis and its renowned brands, including Jeep, Chrysler and Dodge. Marelli, known for its expertise in vehicle lighting and electronic components, had been grappling with financial difficulties for years.

The Pakistan Tehreek-e-Insaf (PTI) has launched a scathing critique of the government's economic management, attributing severe decline in GDP growth from over 6% to negative figures, to the leadership of Prime Minister Shehbaz Sharif, Devdiscourse reported. PTI Central Information Secretary Sheikh Waqqas Akram has highlighted a concerning reduction in average Pakistanis' purchasing power by 58% since the current administration took office.