 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Boy Scouts Beat Appeals of Sex-Abuse Bankruptcy Plan
A federal appeals court largely upheld the Boy Scouts of America’s multibillion-dollar bankruptcy plan to resolve claims of childhood sexual abuse, allowing the youth group to continue to compensate tens of thousands of survivors, WSJ Pro Bankruptcy reported. The U.S. Court of Appeals for the Third Circuit dismissed an appeal of the chapter 11 plan from abuse victims who objected to its blanket releases of liability to the Boy Scouts’ insurers and nonprofit partners. The appeals court did order a modification requested by the global insurer Allianz, which argued the bankruptcy plan would impair its rights under policies it had sold the Boy Scouts. 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 | | | | | U.S. Plant-Based Restaurant Chain Planta Files for Bankruptcy
The plant-based restaurant chain Planta filed for chapter 11 bankruptcy protection on Monday, citing a need to cut costs as U.S. consumers dine out less, Reuters reported. Planta's parent CHG US Holdings and 17 affiliates filed for protection from creditors in the U.S. bankruptcy court in Wilmington, Del. In a statement, the vegan chain said it viewed its reorganization as a "strategic opportunity to streamline our cost structure and strengthen our balance sheet." READ MORE | | Wolfspeed Restructuring Talks Shift to Apollo, Other Creditors
Apollo Global Management has engaged investment bank Moelis as the asset manager negotiates a possible debt restructuring with troubled semiconductor supplier Wolfspeed, WSJ Pro Bankruptcy reported. Apollo ranks near the top of Wolfspeed’s roughly $6.5 billion debt stack, leading a group that holds $1.5 billion in senior secured loans and has the right to approve any new secured financing, securities filings show. Wolfspeed said last week that it is considering restructuring its debt either out of court or through a bankruptcy filing. READ MORE | | NY Fed Q1 Report: Change in Household Debt Balances Mixed; Student Loan Delinquencies Rise Sharply
The Federal Reserve Bank of New York’s Center for Microeconomic Data yesterday issued its Quarterly Report on Household Debt and Credit showing that total household debt increased by $167 billion (0.9%) in Q1 2025, to $18.20 trillion. Aggregate delinquency rates increased from the previous quarter, with 4.3% of outstanding debt in some stage of delinquency. Student loans saw a large uptick in the delinquency rate at which balances went from current to delinquent due to the resumption of reporting of delinquent student loans on credit reports after a nearly five-year pause due to the pandemic. READ MORE
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June 17 | New York, N.Y. | | | | |  | | Daily Roundup | | | | | Rite Aid Closing an Additional 68 Locations Across 7 States
Rite Aid added 68 more locations to its list of closures in a May 9 filing in the U.S. Bankruptcy Court for the District of New Jersey, USA Today reported. The company, which currently operates 1,240 stores across 15 states, announced on May 5 it had begun chapter 11 bankruptcy proceedings and would soon begin a process of selling and closing its stores. In the meantime, customers will be able to access pharmacy services and the company said in a news release that it is "working to facilitate a smooth transfer of customer prescriptions to other pharmacies." READ MORE | | Worried About the Economy, America’s Small Businesses Are Reducing Investment and Hiring, Survey Shows
The mood on Main Street continues to worsen as unpredictable trade policy and a loosening labor market weighs on America’s small businesses, according to a monthly survey, the Wall Street Journal reported. The National Federation of Independent Business said yesterday that its optimism index, a gauge of sentiment among small firms, fell to 95.8 in April from 97.4 in March, keeping the index below the 98 mark that represents the long-term average for confidence among small companies. (Subscription required.) READ MORE | | CFPB Scraps Toyota Settlement, Walmart Lawsuit
The U.S. Consumer Financial Protection Bureau has canceled a 2023 settlement with the financing arm of Toyota over allegations the auto giant illegally steered thousands of consumers into costly and unwanted product bundles, according to documents published by the agency, Reuters reported. The agency on Tuesday also dropped a federal lawsuit against the retail giant Walmart and the workforce payments firm Branch in which officials last year said the companies had forced more than a million delivery drivers into using accounts that cost them more than $10 million in so-called junk fees. READ MORE | | | | |
