 | | Featured Premium Content | | | | | [ABI Journal]: Videoconferencing § 341 Meetings: One Year Later
In 2023, the U.S. Trustee Program (USTP) unveiled its initiative to virtually conduct § 341 meetings, according to an ABI Journal article. However, due to the COVID-19 pandemic, which started in March 2020, many trustees had already been turning to Zoom’s videoconferencing platform to conduct their § 341 meetings prior to the USTP’s initiative. In fact, some chapter 13 trustees had been conducting videoconferenced § 341 meetings for decades. READ MORE | | |  | | Editor's Picks | | | | | Republicans Consider Increasing Taxes on the Rich in Break from Party Orthodoxy
Republicans in Congress are considering increasing taxes on the rich as a part of President Trump’s legislative priorities, a striking development that breaks with decades of party orthodoxy and is spurring alarm bells from traditional conservatives, The Hill reported. The discussions are in the early stages, and lawmakers say it is possible that no tax hike makes it in the final legislation. But the once-inconceivable consideration of tax increases underscores the tricky task that Republicans have in meeting competing demands from fiscal hawks, moderates and tax slashers for the ambitious party-line bill — as well as the rise of populist instincts in the party. READ MORE | | Bitcoin Miner Accuses K&L Gates of Botching Bankruptcy Claim, Overbilling
A bitcoin mining company has sued K&L Gates and one of its bankruptcy partners, alleging that the law firm overcharged legal fees while failing to perform a simple bankruptcy task, leading to a $24 million lawsuit against the bitcoin miner, Reuters reported. The lawsuit from Gryphon Digital Mining, filed Monday in Manhattan federal court, seeks an unspecified amount of damages from K&L Gates after the firm allegedly failed to file a claim on its behalf. READ MORE | | New CEO to Lead Spirit Airlines into Its Post-Bankruptcy Future
While the low-cost airline initially insisted that former CEO Ted Christie would continue to lead after it filed for bankruptcy and later emerged from it with a deal to go private, the longtime Spirit Airlines executive was officially given the boot on April 7, The Street reported. While Christie was initially replaced by an interim team of CFO Fred Cromer, COO John Bendoraitis and SVP and General Counsel Thomas Canfield, Spirit has now announced that Sun Country Chief Financial Officer and President Dave Davis will be stepping in as the new president and chief executive officer effective April 21. READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI Annual Spring Meeting Marriott Marquis
April 24-26 | Washington, D.C. | | ABI Central States Bankruptcy Workshop The Ritz-Carlton, Chicago
June 18-20 | Chicago, Ill. | | | | |  | | Daily Roundup | | | | | Sex Abuse Attorneys Want New Orleans Archdiocese Bankruptcy Case Dismissed
After nearly five years of mediation in federal bankruptcy court between the Archdiocese of New Orleans and hundreds of sex abuse survivors, some attorneys now want the case dismissed, WVUE (La) reported. Rick Trahant, who represents more than 80 survivors, says that he and other lawyers involved are frustrated with the lengthy process and the lack of financial compensation for their clients. Trahant says he wants the cases removed from bankruptcy court and returned to state courts. READ MORE | | Lawmakers Launch Investigation into 23andMe After Bankruptcy
A group of House lawmakers launched a probe Thursday into 23andMe’s handling of customers’ sensitive data following the company’s filing for bankruptcy last month, The Hill reported. In a letter to 23andMe, House Commerce and Energy Committee Chair Brett Guthrie (R-Ky.) and Reps. Gus Bilirakis (R-Fla.) and Gary Palmer (R-Ala.) asked the company to state its data privacy and security protections for former customers if the business chooses to sell the personal information in either a standalone sale or as part of a sale of the company. READ MORE | | KDHX Seeks Auction in Bankruptcy Amid Competing Bids
Troubled radio station KDHX now wants an auction for its major assets held in bankruptcy court, following the emergence of a competing bid for its Federal Communications Commission license and broadcast tower, KSDK reported. The nonprofit, known legally as Double Helix Corp., asked for a bankruptcy court judge in St. Louis to set bid procedures for an auction, but Judge Kathy Surratt-States didn't want to approve that Wednesday, and asked KDHX, working with interested purchasers, to later submit bid procedures, along with a desired auction date, according to KDHX attorney Rob Eggmann. READ MORE | | Gerawan Sues Maine Pension System for Details Behind Prima Wawona’s Collapse, Bankruptcy
Central Valley farmer Dan Gerawan has sued the Maine Public Employees Retirement System to gain information about Prima Wawona, the now-bankrupt company that succeeded his family farming enterprise, Gerawan Farming and the private equity management firm that led to its demise, the San Joaquin Valley Sun reported. The Maine Public Employees Retirement System, known as MainePERS, invested in major investing firm Paine Schwartz Partners and funded the firm’s acquisition of Wawona Packing in its merger with Gerawan Farming. READ MORE | | U.S. Industrial Production Fell in March
America's industrial output declined in March from a month earlier, dragged down by a slower stretch at utilities amid unusually warm weather, per new data out Wednesday from the Federal Reserve, Barrons reported. Total industrial output was down by 0.3% last month, following a 0.8% increase in February. Economists surveyed by WSJ had expected to see production decline by 0.1%. Utilities activity dropped by 5.8%, but other industrial sectors notched gains. READ MORE | | | | |
