 | | Featured Premium Content | | | | | ABI Materials: GenAI Is Here to Stay: The Ethics of Using and Billing for AI Without Fear
A panel at ABI's Annual Spring Meeting explored the ethical implications of AI in legal practice, focusing on fee issues and providing tips for crafting effective prompts. Read the session materials here. | | | | | SPONSORED CONTENTDefault Rate May Not Tell the Whole Story The expected increase in loan defaults in 2024 never materialized. But while corporate credit health appears strong on the surface, there are signs of potential weakness underneath. This article examines current trends to help you stay informed about silent loan defaults, private credit default trends, impacts on maturities, and more. READ MORE | | |  | | Editor's Picks | | | | | More Americans Are Financing Groceries with Buy Now, Pay Later Loans
A growing number of Americans are using buy now, pay later loans to buy groceries, and more people are paying those bills late, according to new Lending Tree data released Friday. The figures are the latest indicator that some consumers are cracking under the pressure of an uncertain economy and are having trouble affording essentials such as groceries as they contend with persistent inflation, high interest rates and concerns around tariffs. READ MORE | | Mediation Team in PREPA’s Bankruptcy Seeks Extension of Talks to October
The team mediating a settlement of the Puerto Rico Electric Power Authority’s (PREPA) debt between the utility and creditors has asked the federal Title III court to extend the termination date of the mediation to Oct. 31, 2025, the San Juan Daily Star reported. PREPA has been in bankruptcy since 2017 to settle a $9 billion debt. It is the 12th time since it was appointed in April 2022 that the mediation team has requested an extension of talks. The team, through the Financial Oversight and Management Board, in March engaged the services of PJT Partners as financial adviser for an initial period of six months at $1 million per month, arguing that it “will play a key role assisting the Mediation Team as it continues to engage with all stakeholders to fashion and facilitate a possible settlement.” READ MORE | | Attempts to Shutter CFPB Leading to Many Protections Being Placed on Hold
As the legal battle unfolds over the shuttering of the Consumer Financial Protection Bureau, some CFPB rules — many of which already faced challenges in court — might remain on hold for several years, the Washington Post reported. Others might be overturned outright or wither away because of weak enforcement. Mark Paoletta, the consumer watchdog’s chief legal officer, said in a memo that all CFPB enforcement and supervision priorities have been rescinded as part of an effort to slash the agency’s oversight efforts. READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI International Latin America Symposium Charleston Santa Teresa Cartagena
May 12-14 | Cartagena, Colombia | | VALCON 2025 Four Seasons Las Vegas
May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | MSG Networks Cuts Media Rights Fees After Debt Restructure
MSG Networks (MSGN), the regional TV broadcaster owned by entertainment and sports venue Madison Square Garden, has reduced its media rights fees for the NBA basketball’s New York Knicks and NHL ice hockey’s New York Rangers after restructuring its debt deal to avoid bankruptcy, SportCal.com reported. MSGN is part of a group of regional sports networks (RSNs) housed under the publicly traded Sphere Entertainment Co. (SEC), the company of Knicks and Rangers owner James Dolan, that had accumulated $804 million in debt. READ MORE | | Galloway Capital Builds 3% WW Stake, Pushes for Debt Deal Amid Bankruptcy Rumors
Galloway Capital Partners is urging WW International Inc. to avoid chapter 11 bankruptcy, after disclosing a 2.87% stake in the embattled weight management company. The firm’s Chief Investment Officer, Bruce Galloway, told Investing.com that Weight Watchers still has solid fundamentals and does not meet the criteria for insolvency, making a bankruptcy filing both unwarranted and damaging to equity holders. READ MORE | | Minneapolis Craft Cocktail Maker Dashfire Files for Bankruptcy
Minneapolis liquor company Dashfire Bitters has filed bankruptcy, buffeted by rising costs and a slowdown in the spirits industry, the Minnesota Star Tribune reported. Dashfire and two related companies on Tuesday filed chapter 11 bankruptcy. The company is asking the U.S. Bankruptcy Court in Minnesota to reject the lease and allow Dashfire to enter a new commercial lease in Baldwin, Wis. READ MORE | | Ocoee Developer Files for Bankruptcy Amid Ongoing Legal Battles
Planned developments Lake Bennett Village-Ocoee LLC and Maine Boulevard II LLC filed for chapter 11 bankruptcy protection on April 7 in the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, WFTV.com reported. The filings triggered automatic stays on certain collection and legal actions against the entities — coming days before scheduled foreclosure sales of the properties represented by those businesses. READ MORE | | Trump 2.0 Era Brings Flurry of Crypto Deals
President Trump’s embrace of digital currencies has unleashed a flurry of crypto deals, with companies seeking to capitalize on lighter U.S. regulation and what they hope will be growing mainstream interest in the sector, the Wall Street Journal reported. This week brought the debut of Twenty One Capital, a new bitcoin company that plans to go public through a $3.6 billion merger with a special-purpose acquisition company led by Brandon Lutnick, son of Commerce Secretary and close Trump confidant Howard Lutnick. (Subscription required.) READ MORE | | | | |
