 | | Featured Premium Content | | | | | BankruptcyData: Franchise Group, Inc. – Lender Agents' Battle Over Collateral Rights Heats Up with Lawsuit Filing
First-lien administrative and collateral agent Wilmington Trust, National Association filed a lawsuit against second-lien administrative and collateral agent Alter Domus (US) LLC, alleging that the debtors' second-lien lenders breached a 2021 intercreditor agreement by improperly filing a $158.4 million superpriority administrative claim in an attempt to maintain some hold on the value of the Debtors' assets [Docket No. 1157]. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes?With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | Delaware Lawmakers Approve Corporate Bill that Critics Call Giveaway to Billionaires
Delaware lawmakers approved on Tuesday an overhaul of the state's corporate law in a bid to keep powerful business leaders like Mark Zuckerberg from moving their companies' legal home to another state, although opponents call it a giveaway to billionaires, Reuters reported. The proposal provides steps that allow for a company and its controlling shareholder to arrange deals, such as selling corporate assets to the controller, that cannot be challenged in court by the company's other investors. The law, known as SB 21, was approved by a vote by Delaware's House and now goes to Governor Matt Meyer, who has said that he will sign it. READ MORE | | New York AG Urges 23andMe Users to Delete Accounts as Bankruptcy Fuels Privacy Concerns
New York Attorney General Letitia James on Tuesday urged 23andMe customers to delete their accounts and secure their data, days after the company filed for bankruptcy amid weak demand for its ancestry testing kits, Reuters reported. A number of users attempted to delete their accounts in a last-ditch effort to protect their privacy due to uncertainty around the company's future and what any new owner could do with user data. READ MORE | | Benson Hill Secures Court Approval for Chapter 11 Motions
Benson Hill Inc., a seed innovation firm whose stock has declined nearly 95% over the past year according to InvestingPro data, received U.S. Bankruptcy Court authorization for its "first-day" requests after filing for chapter 11 on March 20, 2025, Investing.com reported. The court’s orders permit Benson Hill to continue its daily operations, including accessing up to $11 million in debtor-in-possession (DIP) financing from its lenders, with $3 million available immediately. READ MORE
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May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | 23andMe Went From a $6 Billion Giant to Bankruptcy. Its Former CEO Won’t Walk Away.
Anne Wojcicki isn’t ready to let go. The company she co-founded, 23andMe has burned through more than $1 billion and laid off more than half its staff, the Wall Street Journal reported. A board of directors Wojcicki stocked with her friends resigned en masse in September because they couldn’t get on board with her strategy for the maker of at-home DNA tests. On Sunday night, the company filed for bankruptcy protection, its survival uncertain. Wojcicki immediately vowed to buy it back. READ MORE | | Ripple Labs Says It Settles with SEC, Will Pay Reduced $50 Million Fine
Ripple Labs agreed to settle a U.S. Securities and Exchange Commission civil lawsuit over the alleged sale of unregistered securities and pay just $50 million of a previously imposed $125 million fine, the cryptocurrency company's chief legal officer said on Tuesday, Reuters reported. Ripple Chief Legal Officer Stuart Alderoty said in a post on X that the SEC would keep $50 million of the $125 million fine imposed in August by U.S. District Judge Analisa Torres in Manhattan and now in escrow earning interest. READ MORE | | Farmers, Food Banks Stung by U.S. Funding Cuts While Costs Climb
More than $1 billion in assistance that usually flows into the U.S. Department of Agriculture for two programs that help local farmers, schools and food banks has already vanished. Now the administration is threatening to slash the agency’s Supplemental Nutrition Assistance Program, or SNAP, which provides low-income families with benefits to help supplement their grocery budgets. All of that is leaving farmers without what was once a safe outlet for their produce. READ MORE | | Retailers Bulk Up Inventories to Blunt Tariff Impact
Retailers selling merchandise from kitchenware to sneakers are stockpiling goods in an attempt to blunt the impact of the Trump administration’s new tariffs on their bottom lines, the Wall Street Journal reported. Companies from large retailers such as warehouse chain Costco Wholesale to specialty merchants such as home-goods retailer Williams-Sonoma and apparel seller Zumiez say they are holding more inventory after placing unusually big orders to beat Trump’s new tariffs. (Subscription required.) READ MORE | | Consumer Confidence Hits 12-Year Low
Consumer confidence dimmed further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported Tuesday, according to CNBC.com. The board’s monthly confidence index of current conditions slipped to 92.9, a 7.2-point decline and the fourth consecutive monthly contraction. However, the measure for future expectations told an even darker story, with the index tumbling 9.6 points to 65.2, the lowest reading in 12 years and well below the 80 level that is considered a signal for a recession ahead. READ MORE | | | | |
