 | | Featured Premium Content | | | | | [ABI Journal]: ASM Session Discussed Economic Impact of Recent Trends in Politics and Policies
With domestic and foreign economic policies (and potentially laws and regulations) undergoing a seismic shift in the U.S. and around the world, a panel of experts gathered at ABI’s Annual Spring Meeting in Washington, D.C., on April 25 to consider the business impacts of tariffs, trade policies, tax reform, changes in the regulatory environment, and disruptions in both the public and private sectors. Given the rapid pace of proposed and actual changes, the panelists offered a snapshot of current events at the time of the session and explored areas of increased or potential financial distress. READ MORE | | ABI@NCBJ
ABI is honored to be hosting a reception at 4:30 p.m. on Thursday, Sept. 18, 2025, at NCBJ in Chicago, as well as educational sessions on Friday, Sept. 19. To register for the conference, please click here. At NCBJ, ABI also will be handing out the 2025 Judge William L. Norton Jr. Judicial Excellence Award. Nominations for that award will be accepted until July 15, 2025, and can be emailed to arin.berkson@thomsonreuters.com. | | |  | | Editor's Picks | | | | | Regeneron Declines to Make Higher Bid for 23andMe After Wojcicki's $305 Million Offer
Regeneron Pharmaceuticals has declined to submit a new bid for genetic testing company 23andMe exceeding its original winning bid of $256 million, Reuters reported. Co-founder Anne Wojcicki is set to regain control of 23andMe after a $305 million bid from a nonprofit she controls topped Regeneron's offer for the DNA-testing company in a bankruptcy auction. Last month, Regeneron had agreed to buy the firm for $256 million, beating an earlier $146 million bid from Wojcicki and the nonprofit TTAM Research Institute. Once a trailblazer in ancestry DNA testing, 23andMe filed for bankruptcy in March, seeking to sell its business at auction after a decline in demand and a 2023 data breach that exposed sensitive genetic and personal information of millions of customers. READ MORE | | Credit Scores Decline for Millions as U.S. Student Loan Collections Restart
Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection, the Associated Press reported. After 90 days of nonpayment, student loan servicers report delinquent, or past-due, accounts to major credit bureaus, which use the information to recalculate the borrower’s score. The Federal Reserve Bank of New York reported that in the first three months of 2025, 2.2 million student loan recipients saw their scores drop by 100 points, and an additional 1 million had drops of 150 points or more. READ MORE | | Purdue Pharma $7.4 Billion Opioid Settlement Wins Broad Support from U.S. States
Purdue Pharma has won support from the attorneys general of 55 U.S. states and territories for its $7.4 billion settlement to resolve thousands of opioid lawsuits against the drugmaker and its owners, members of the Sackler family, Reuters reported. A framework for the settlement had been announced in January by New York Attorney General Letitia James and other states, and the support announced on Monday could help Purdue Pharma win court approval for its bankruptcy reorganization. The $7.4 billion payment is intended to resolve claims that the drugmaker's pain medication OxyContin caused a nationwide opioid addiction crisis. READ MORE
MORE NEWS BELOW | | | | |  | | Upcoming Events | | | | | ABI Central States Bankruptcy Workshop The Ritz-Carlton, Chicago
June 18-20 | Chicago, Ill. | | ABI Northeast Bankruptcy Conference & Consumer ForumOmni Mt. Washington Resort
July 14-16 | Bretton Woods, NH.. | | | | | | |  | | Daily Roundup | | | | | Alex Jones, Family Sued in Bankruptcy Court over Asset Transfers
Alex Jones, along with his family members, should hand over millions of dollars in cash and other assets that the conservative talk show host has shielded from creditors, a trustee said in bankruptcy court lawsuits, Bloomberg Law reported. Prior to filing for chapter 11 in 2022, the outspoken conspiracy theorist and those close to him had orchestrated several transactions designed to keep cars, cash and real estate from being roped into his bankrupt estate, according to three complaints. Jones’ wife, Erika Wulff Jones, and father, David R. Jones, are also named as defendants who took part in what the trustee called a “series of textbook fraudulent transfers.” (Subscription required to view article.) READ MORE | | Warner Bros Discovery Bondholders Approve Plan to Split the Company
Warner Bros Discovery bondholders overwhelmingly approved a plan to split the corporation and put in place a new capital structure related to the deal, Reuters reported. Bondholders voted to remove restrictions that could have prevented the company from carrying out its plan to cleave itself into two publicly traded entertainment companies, separating its studios and HBO Max streaming service from its fading cable networks. Credit investors also supported the company's plan to buy back nearly half of its $37 billion in debt resulting from the 2022 merger of WarnerMedia and Discovery. READ MORE | | New Jersey Can Have a Grand Jury Investigate Clergy Sex Abuse Allegations, State High Court Rules
New Jersey can have a grand jury examine allegations of clergy sexually abusing children, the state’s Supreme Court ruled Monday, after a Catholic diocese that had tried for years to block such proceedings recently reversed course, the Associated Press reported. The Diocese of Camden previously had argued that a court rule prevents the state attorney general from impaneling a grand jury to issue findings in the state’s investigation into decades of allegations against church officials. But the diocese notified the court in early May that it would no longer oppose that. Camden Bishop Joseph Williams, who took over the diocese in March, said he’d met with stakeholders in the diocese and there was unanimous consent to end the church’s opposition to the grand jury. READ MORE | | Celsius CEO Gets Nothing: Mashinsky Forfeits All Bankruptcy Claims
The U.S. Bankruptcy Court for the Southern District of New York has finalized an agreement that prevents former Celsius CEO Alex Mashinsky from claiming any assets from the company’s bankruptcy proceedings, Coin Central reported. The decision ensures that more funds will be available for distribution to creditors who lost money when the crypto lending platform collapsed. Mashinsky and three related entities — AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC — have agreed to forfeit all claims to Celsius’ bankruptcy estate. The court filing states that this agreement allows Celsius debtors to distribute funds that were previously tied up due to claims made by these parties. READ MORE | | Dave & Buster's Rival Pinstripes Set for Bankruptcy, Sparking Fears All Locations Will Close
A major name in the 'eatertainment' space is preparing to file for bankruptcy, the Daily Mail reported. Pinstripes — the upscale chain that combines bowling alleys, bocce courts and a full bistro menu — is readying paperwork to file for chapter 11. With fire pits and Adirondack chairs, it once positioned itself as a stylish alternative to Topgolf or Dave & Buster’s. The company operates 18 massive venues across the U.S., each spanning up to 38,000 square feet and capable of hosting up to 1,500 guests. Pinstripes plans to stay open as the bankruptcy process moves through the courts, but this marks the latest blow for a company that once touted “rapid growth” across the U.S. READ MORE | | Creditors Claim Millions as Freight Bankruptcy Filings Roll In
Creditors are claiming millions of dollars from two trucking companies and a distribution service provider after all three companies filed for bankruptcy this week, FreightWaves reported. Palatine, Ill.-based trucking company Dolche Truckload Corp. filed for chapter 11 in the Northern District of Illinois. Dolche Truckload has up to 49 estimated creditors. The company has $1-$10 million in assets and $1-$10 million in estimated liabilities. Louisville, Ky.-based distribution company Contract Managed Services filed for chapter 11 protections in the Western District of Kentucky. It has up to 49 estimated creditors claiming $1-$10 million in liabilities. The company estimated it has $1-$10 million in assets. READ MORE | | | | |
