 | | Featured Premium Content | | | | | [BankruptcyData]: Q1 2025 League Tables Released
BankruptcyData’s Advisory Retentions and Group Activity Report tracks and ranks advisors to key parties in U.S. bankruptcy cases (including chapters 11, 7, and 15) filed in 1Q25. This report also highlights ad hoc group membership as well as the appearances of specific professionals. This report is essential for anyone tracking market share, competitive intelligence, or just looking to understand who’s getting the work in corporate distress. READ MORE | | |  | | Editor's Picks | | | | | Byju’s Lenders Chase $500 Million Moved Out of U.S.
When Indian education-technology company Byju’s was ordered last year to freeze over $500 million as part of a U.S. court battle with its lenders, it said the funds were safely within the business, WSJ Pro Bankruptcy reported. Byju’s by that time had already moved the half-billion dollars out of the U.S. through transactions involving a little-known hedge fund that were obscured in financial statements showing the cash sitting in its accounts, court records show. READ MORE | | Forever 21 Bankruptcy Creditors Probing Sparc-JCPenney Tie-Up
A committee of unsecured creditors to Forever 21 Inc.’s U.S. operator said that they are “aggressively investigating” all deals made by the retailer before it filed for chapter 11, including JCPenney’s acquisition of the operator’s parent Sparc Group, Bloomberg News reported. The acquisition “joined and obligated” Forever 21 and certain affiliates to pay JCPenney’s existing debt, the committee alleged in a Thursday court filing. READ MORE | | Silver Airways Faces Potential Liquidation Amid Bankruptcy Woes
Silver Airways, a regional airline based in Florida, is teetering on the edge of liquidation as its chapter 11 bankruptcy, filed in December 2024, unravels, Aviation Source News reported. Silver Airways entered chapter 11 hoping to restructure its over $500 million debt. However, the U.S. trustee overseeing the case has pushed for dismissal, arguing the airline’s plan is unsustainable. READ MORE
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May 12-14 | Cartagena, Colombia | | | | |  | | Daily Roundup | | | | | Former Accounting Chief at Now-Defunct Girardi Keese Law Firm Sentenced to Over 10 Years in Prison for Defrauding Firm and Clients
The former longtime head of the accounting department at the now-shuttered downtown Los Angeles plaintiffs’ personal injury law firm Girardi Keese was sentenced today to 121 months in federal prison for enabling the embezzlement of millions of dollars from the firm’s injured clients and for embezzling money from the law firm itself, according to a DOJ press release. Christopher Kazuo Kamon, formerly of Encino and Palos Verdes and who was residing in The Bahamas at the time of his November 2022 arrest, was sentenced by United States District Judge Josephine L. Staton. Judge Staton also ordered Kamon to pay $8,903,324 in restitution. READ MORE | | CFPB Offers Regulatory Relief from Registration Requirements for Small Loan Providers
The Consumer Financial Protection Bureau announced on Friday that, with respect to the regulation titled Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders, 89 Fed. Reg. 56028 (July 8, 2024) (codified at 12 CFR part 1092), it will not prioritize enforcement or supervision actions with regard to entities that do not satisfy future deadlines under the regulation to submit registration information. This policy applies to, but is not limited to, the upcoming April 14, 2025, registration deadline for entities subject to 12 CFR 1092.206(a)(2) and July 14, 2025, registration deadline for entities subject to 12 CFR 1092.206(a)(3). READ MORE | | Binance Seeks to Curb U.S. Oversight While in Deal Talks with Trump’s Crypto Company
Executives from cryptocurrency exchange Binance met with Treasury Department officials last month and discussed loosening U.S. government oversight on the company, while it was also exploring a business deal with a Trump family crypto venture, the Wall Street Journal reported. The Binance executives asked Treasury officials in Washington to remove a U.S. monitor that oversees the exchange’s compliance with anti-money-laundering laws, some of the people said. The move would mark a first step toward returning the company, which in 2023 pleaded guilty to violating those laws, to the U.S. market. (Subscription required.) READ MORE | | CFPB Dismisses Case Against Comerica Bank
The U.S. Consumer Financial Protection Bureau on Friday dismissed its lawsuit against Comerica Bank, after the agency previously accused the lender of systematically mistreating millions of mostly disabled and older customers, Reuters reported. In a filing submitted in U.S. District Court, the agency said that it was dismissing the suit, which was filed in December under the Biden administration. READ MORE | | Lucid to Acquire Facilities Following Nikola Bankruptcy
Lucid Group is set to acquire selected assets and facilities previously owned by Nikola Corporation, subject to approval by the U.S. Bankruptcy Court for the District of Delaware, Future Transport News reported. This acquisition includes two sites in Arizona but does not involve Nikola’s core business, customer base, or hydrogen fuel cell vehicle technology. Lucid, which currently produces electric vehicles at its Arizona plant, intends to use the acquisition to support the scaling of its operations, including production of the Lucid Gravity SUV and future midsize platform models. READ MORE | | | | |
