 | | Featured Premium Content | | | | | ABI Journal: Ascent of Private Capital Hampers Monitoring of Corporate Distress
When combing through news story coverage in various business media and restructuring-oriented publications or otherwise screening for useful data and intelligence on potential restructuring candidates, something concerning has become obvious: Financial statement information and other quantitative data on many prospective names has been scant or absent from public sources and subscription services, with the problem worsening in recent years, according to a recent ABI Journal article. READ MORE | | | | | SPONSORED CONTENTDefault Rate May Not Tell the Whole StoryThe 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. DOWNLOAD THE ARTICLE | | 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 submitted at arin.berkson@thomsonreuters.com. | | |  | | Editor's Picks | | | | | Purdue Pharma Gets Approval for Disclosure Statement in Bankruptcy Case
Purdue Pharma received approval for the company's disclosure statement tied to its chapter 11 reorganization plan that aims to deliver more than $7.4 billion in cash to creditors to compensate victims and abate the opioid crisis, Dow Jones reported. The company on Friday said that it received approval from the U.S. Bankruptcy Court for Southern District of New York. The disclosure provides creditors with detailed information related to terms of the plan. (Free registration required.) READ MORE | | Wolfspeed Plans Bankruptcy Filing in Deal Reached With Creditors
Wolfspeed plans to file for bankruptcy in the United States under a restructuring agreement with creditors, which would provide it with fresh financing and slash debt by nearly 70%, the struggling chipmaker said on Sunday, Reuters reported. Wolfspeed raised going-concern doubts in May, as deepening economic uncertainty stemming from changing U.S. trade policies, combined with weakening demand, triggered a series of financial challenges. READ MORE | | Online Casino Operator Wins Auction for Publishers Clearing House
Publishers Clearing House, the direct-to-consumer marketing company known for its Prize Patrol sweepstakes, found a new owner who plans to revive the classic brand that went bankrupt after government scrutiny and a changing retail landscape, the Wall Street Journal reported. ARB Interactive, the company behind online Modo Casino, emerged as the winning bidder in a recent bankruptcy auction for the assets of Publishers Clearing House. (Subscription required.) READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI Northeast Bankruptcy Conference & Consumer ForumOmni Mt. Washington Resort
July 14-16 | Bretton Woods, NH.. | | ABI Southeast Bankruptcy WorkshopThe Ritz-Carlton, Amelia Island
July 24-27 | Amelia Island, Fla. | | | | |  | | Daily Roundup | | | | | Texas Judge Brings Outsider View to Bankruptcy Romance Scandal
As the legal fallout of a Texas bankruptcy judge’s undisclosed romance with a local lawyer heads to mediation this week, the most influential player won’t even be in the room, Bloomberg Law reported. Judge Alia Moses hasn’t minced words since she took over the case this spring, citing what she called a “constellation” of misbehavior over $23 million in contested legal fees. Judge Moses has the authority to approve or reject any potential settlement between Jackson Walker LLP and the Justice Department’s bankruptcy watchdog, the U.S. Trustee, which wants to claw back fees the firm collected while one of its lawyers was romantically involved with former Houston bankruptcy judge David R. Jones. She would also preside over a trial if a deal can’t be reached. READ MORE | | Bankruptcy Judge Fines Govoni $300K But Stops Short of Criminal Contempt Referral
A Clearwater, Fla., businessperson accused in court records of taking $100 million from medical trust funds will not face criminal contempt proceedings over his failure to produce financial records, a federal judge has ruled, the Tampa Bay Times reported. However, Bankruptcy Judge Roberta Colton fined Leo Govoni almost $300,000 in an order issued Thursday. That stems from her finding of civil contempt in May when she issued a $5,000 fine for every day he remained in violation of a court order to turn over personal and business documents. READ MORE | | Seaborne Airlines Seeks Bankruptcy Court Approval for Urgent Auction to Preserve Operations
Seaborne Airlines is gearing up to take itself to auction, with a motion filed this week in bankruptcy court seeking approval to proceed, the Virgin Islands Consortium reported. Seaborne is attempting to secure a “going concern” sale, which will ensure that the airline continues to operate. Sister airline Silver Airways tried to do the same, but failed after running out of operating cash. A quick auction — by July 1 — and subsequent sale, says Seaborne, will save it from a similar fate. READ MORE | | Still Early to Assess Tariff Impact on Economy, Fed Report Says
The Federal Reserve's latest Monetary Policy Report to Congress, released on Friday, said that U.S. inflation is somewhat elevated and the labor market is in solid shape, but suggested that President Donald Trump's tariffs have likely only begun to be felt and repeated the central bank's view that it can wait for more clarity before taking action. READ MORE | | CareerBuilder and Monster Venture Explores Bankruptcy Options
A joint venture between CareerBuilder and Monster, early pioneers in online job hunting, is considering a potential bankruptcy filing, according to Bloomberg. The private equity-backed entity has engaged AlixPartners for operational guidance and Latham & Watkins for legal counsel. READ MORE | | | | |
