 | | Featured Premium Content | | | | | ABI Conference Materials: "Generative AI and the Restructuring Professional: Practical Uses, Ethical Risks, and How Not to Get Sued by Skynet"
As generative AI becomes part of the bankruptcy and restructuring toolbox, professionals face exciting opportunities — and serious obligations. A panel at ABI's 2025 Central States Bankruptcy Workshop dove into real-world uses of AI tools, best practices for effective prompting, and the ethical rules you really don’t want to break. 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 | | | | | Saks Gets $600 Million Lifeline as Creditors Face Steep Losses
Saks Global Enterprises has reached a $600 million debt deal with a number of its existing lenders that would force some creditors to accept losses and push them back in the repayment priority line, Bloomberg News reported. As part of the complex arrangement, a group holding a slim majority of the struggling luxury retailer’s $2.2 billion of 11% bonds, which were just issued in December, will provide Saks an immediate $300 million loan, according to deal terms reviewed by Bloomberg. READ MORE | | 23andMe Wins Approval of $305 Million Genetic Data Asset Sale
23andMe Holding Co. secured bankruptcy court approval to sell its genetic data trove to its co-founder and a related nonprofit for $305 million, despite staunch pushback from a slew of states that raised privacy concerns, Bloomberg Law reported. Judge Brian C. Walsh of the U.S. Bankruptcy Court for the Eastern District of Missouri issued his written decision late June 27. The sale to 23andMe co-founder Anne Wojcicki and TTAM Research Institute, which outbid Regeneron Pharmaceuticals for the assets, includes the genetic data of more than 13 million customers. (Subscription required.) READ MORE | | Bankruptcy Judge Imposes $10,000 a Day Fine Against Former Miami Seaquarium Owner
Fearing for the safety of animals and finding the former Dolphin Company CEO Eduardo Albor is defying her orders, a U.S. bankruptcy judge imposed sanctions of $10,000 a day on him Thursday, and said that she may consider additional sanctions and damages, the Key Biscayne Independent reported. The fines are retroactive to June 19. Judge Laurie Selber Silverstein found Albor had continued to file legal actions in Mexican courts to challenge the control of a Dolphin Company entity, known as Controladora Dolphin, even though he had been ordered to stop on June 5. READ MORE
MORE NEWS BELOW | | | | |  | | Upcoming Events | | | | | ABI Northeast Bankruptcy Conference & Consumer ForumOmni Mt. Washington Resort
July 14-16 | Bretton Woods, N.H. | | ABI Mid-Atlantic Bankruptcy Workshop Hershey Lodge
August 18-20 | Hershey, Pa. | | | | |  | | Daily Roundup | | | | | Americans Reined in Their Spending Last Month
Consumer spending declined in May for the first time since January, according to new data released Friday that also showed inflation heated up on an annual basis, CNN.com reported. The Commerce Department report showed that consumer spending fell 0.1% last month after rising 0.2% in April. When taking inflation into account, spending declined by 0.3% for the month. READ MORE | | White House, Senators Eye September Deadline for Crypto Framework
A White House adviser and two key senators said Thursday they are now hoping to pass legislation laying out oversight of the crypto industry by the end of September, pushing back an earlier August deadline, The Hill reported. Senate Banking Committee Chair Tim Scott (R-S.C.) offered up the new timeline for market structure legislation at a fireside chat alongside Sen. Cynthia Lummis (R-Wyo.) and Bo Hines, executive director of President Trump’s Council of Advisors on Digital Assets. READ MORE | | Crypto’s Audacious Bid to Rebuild Stock Market on the Blockchain
Dismissed as a fringe fantasy years ago after a regulatory backlash and the collapse of early projects, the first attempts by the digital-asset industry to put shares on the blockchain fizzled out. This time, a new cohort of players — from crypto giants Coinbase Global Inc. and Kraken to retail favorite Robinhood Markets Inc. — is making a fresh run at reconstructing the very plumbing that governs equities around the world, Bloomberg News reported. READ MORE | | Republicans Float Revamped Proposal for CFPB Cuts
Senate Republicans are making another go at targeting a key funding source for the Consumer Financial Protection Bureau (CFPB) as part of their massive bill to advance President Trump’s tax agenda and spending cuts, The Hill reported. Republicans on the Senate Banking Committee are pushing to significantly limit funding the CFPB is able to access. The effort comes after a previous proposal to completely cut off the funding source was rejected by the Senate’s rules referee. READ MORE | | | | |
