 | | Featured Premium Content | | | | | ABI Journal: Applying § 523 to Corporate Sub V Debtors: A Conscious Policy Decision, or a Drafting Oversight?
Over the past half-decade, bankruptcy courts and practitioners alike have grappled with new issues that have arisen while interpreting subchapter V and the required confirming amendments. Among the challenges has been sorting out the tension between the plain language of new Code sections and the potentially unintended consequences of piecemeal change and conforming amendments. Section 1192 of the Bankruptcy Code is one of those difficult provisions to reconcile. READ MORE | | | | | 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 | | | | | 23andMe Bankruptcy Bid Deadline Extended as DNA Privacy Woes Linger
The sale of the bankrupt DNA data bank 23andMe is facing delays as the company tries to find a lead bidder that can quickly clear regulatory hurdles and guarantee customer privacy rules will be honored, Bloomberg News reported. The former Silicon Valley startup cofounded by Anne Wojcicki has been negotiating with potential buyers trying to land a binding, opening offer that would be used as a floor for a court-supervised auction. The original deadline was shifted from Friday to Monday, according to court papers filed last week. READ MORE | | Syracuse Diocese Inks Insurer Deals Ahead of Bankruptcy Hearing
The Roman Catholic Diocese of Syracuse reached nearly $61 million in settlements with several insurers as it seeks approval of its bankruptcy exit plan, which aims to resolve child sex abuse claims, Bloomberg Law reported. Letters filed in the U.S. Bankruptcy Court for the Northern District of New York in recent days listed deals with 10 insurers. Interstate Fire & Casualty Co. and two other affiliated insurers agreed to put the highest amount into the trust at $35 million, according to an April 27 filing. (Subscription required.) READ MORE | | Student Debt Collections Restart on May 5
After a five-year reprieve, the Trump administration will restart forced collections on federal student loans in default, which could include garnishing a portion of borrowers’ paychecks, the New York Times reported. With collections in place, the last piece of the student loan machinery has been turned back on, officially ending pandemic-era relief, which began when President Trump paused federal student loan payments in March 2020. READ MORE
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June 17 | New York, N.Y. | | | | |  | | Daily Roundup | | | | | Saks Mulls Raising Up to $350 Million in New Debt, CEO Says
Saks Global Enterprises is considering raising up to $350 million in debt as well as selling some of its real estate assets to shore up its finances as stock-market volatility and China tariffs threaten to slow luxury spending, Bloomberg Law reported. The fresh debt would come through a so-called first-in, last-out loan under its existing $1.8 billion revolving credit facility, Chief Executive Officer Marc Metrick said. (Subscription required.) READ MORE | | "America First" Antitrust Enforcement Is Not Regulation, DOJ Official Says
The head of the U.S. Department of Justice's antitrust division laid out a vision for "America First" antitrust in her first public speech on Monday, calling it a way to prevent corporate regulation, Reuters reported. Robust antitrust enforcement, including merger enforcement, is necessary as a check on the free market that will ultimately benefit consumers, Assistant Attorney General Gail Slater said. "Antitrust in the United States is law enforcement. It is not regulation," she said. READ MORE | | Retail Giants Manage to Keep a Lid on Prices but Warn It Can’t Last
To keep prices low on phone chargers, towels and blenders in the face of rising tariffs, America’s largest retailers are trying everything, the Wall Street Journal reported. They are pressuring their suppliers to absorb cost increases and dropping free perks from corporate offices. They have paused some shipments of goods from China and are leaning on inventory that has already been imported to the U.S. (Subscription required.) READ MORE | | | | |
