 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: U.S. Judge Questions ‘Small World’ Among Law Firms in Bankruptcy Ethics Scandal
A federal judge in Texas questioned whether close ties among law firms are affecting litigation over a former bankruptcy judge’s undisclosed romance with a lawyer who appeared in his court on dozens of cases, WSJ Pro Bankruptcy reported. U.S. District Judge Alia Moses indicated at a Thursday hearing that she had reservations about the “small world” of bankruptcy professionals attempting to resolve lawsuits resulting from the ethics scandal that forced David R. Jones off the bench in 2023. 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 | | |  | | Editor's Picks | | | | | J&J’s Failed Talc Bankruptcy Puts Some Mass Tort Firms in Bind
Johnson & Johnson’s failure to resolve mass tort talc litigation through the US bankruptcy system wasn’t just a setback for the health-care giant, but also a costly blow for plaintiffs’ lawyers who got behind the effort, Bloomberg Law reported. The pharmaceutical giant’s return to civil courts to face roughly 60,000 lawsuits alleging its baby powder and other consumer talc products were tainted with cancer-causing asbestos has disrupted the calculated plans by some firms to settle thousands of claims in one fell swoop in bankruptcy. READ MORE | | Joann Closing All Remaining 440+ Stores by May 31
All Joann stores will be closed for business permanently by May 31, bringing an end to business after more than 80 years for the fabric and craft retailer, USA Today reported. Joann shuttered 255 locations in April, months after filing for chapter 11 bankruptcy for the second time within a year. Since filing for bankruptcy, the company has held going-out-of-business sales at the locations. READ MORE | | Battle Lines Redrawn as New Orleans Diocese Bankruptcy Moves to Next Step
Archdiocese of New Orleans bankruptcy, Archbishop Gregory Aymond made a rare court appearance Friday at a hearing over whether to extend the appointment of a key mediator in the case who helped broker the recent agreement, NOLA.com reported. The archbishop’s presence at what would typically be a routine matter underscores the critical juncture in the court battle that has consumed the local Roman Catholic Church for the past five years. It also points to the challenges the church faces as it tries to get the proposed deal — which would pay abuse survivors nearly $180 million over five years and entitle them to additional money from insurers and property sales — over the finish line. READ MORE
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June 11-13 | Park City, Utah | | | | |  | | Daily Roundup | | | | | Private Equity Created a ‘Nightmare’ in CT Hospitals, Staff Say. Lawmakers Seek to Prevent a Recurrence
Connecticut lawmakers and officials are seeking through several proposed bills to restrict private equity’s role in Connecticut hospitals, the Hartford Courant reported. But there are differences of opinion of how far regulations should go. (Free registration required.) READ MORE | | Shuttered Las Vegas Golf Course Sold at Auction After History of Bankruptcies
A long-shuttered golf course in Las Vegas with a history of bankruptcies and deterioration has been sold, the Las Vegas Review-Journal reported. The Silverstone golf course property in the upper northwest valley was sold at a Clark County treasurer’s office trustee auction on May 8 for the minimum bid of nearly $2.8 million, according to county officials, who did not name the buyer but said it was not the previous owner. READ MORE | | Confluence Genetics Purchases Benson Hill Assets Out of Chapter 11
The U.S. Bankruptcy Court for the District of Delaware approved last week the sale of the business assets of Benson Hill to Confluence Genetics, LLC, according to a company press release. The company will focus on scaling its proprietary ultra-high protein soybean genetics for animal feed, expanding market position in its specialty food grade portfolio, and expanding geographies by leveraging its unique soy germplasm, AI-powered breeding platform, and speed breeding facility. READ MORE | | Rooftop Solar Takes Gut Punch in House Tax Bill
The struggling rooftop solar industry faces a potentially fatal blow after the House of Representatives passed a tougher version of President Trump’s expansive tax-and-spending package, the Wall Street Journal reported. The bill sunsets rich renewable energy credits, as expected — but includes more stringent provisions and rollback dates that were seen as especially bleak for rooftop solar. Credits for rooftop solar and battery storage would end this year, while those for larger solar, storage and wind energy projects would end by 2028, instead of a slower phaseout through 2031. (Subscription required.) READ MORE | | Lower Prices Boost New U.S. Home Sales; Outlook Downbeat Amid Higher Mortgages
Sales of new U.S. single-family homes surged to more than a three-year high in April as builders lowered prices to attract buyers, but rising mortgage rates and economic uncertainty remained headwinds for the housing market, Reuters reported. Data for February and March was revised significantly down, taking some of the shine from the unexpected increase in sales last month reported by the Commerce Department on Friday. READ MORE | | | | |
