 | | Featured Premium Content | | | | | ABI VALCON Materials: "The Ever-Changing Landscape of Sports Media Properties and Valuation Issues in Chapter 11"
A panel of experts at VALCON 2025 addressed the ever-changing landscape of sports media properties and valuation issues in chapter 11. Access the materials from the session here! | | | | | 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 | | | | | Federal Appeals Court Temporarily Reinstates Most of Trump's Sweeping Tariffs
A federal appeals court on Thursday reinstated the most sweeping of President Donald Trump's tariffs, a day after a trade court had ruled Trump had exceeded his authority in imposing the duties and had ordered an immediate block on them, Reuters reported. An order from the United States Court of Appeals for the Federal Circuit in Washington provided no opinion or reasoning but directed the plaintiffs in the case to respond by June 5 and the administration by June 9. READ MORE | | Ex-Goldman Banker Leissner Sentenced to Two Years in Prison in 1MDB Case
Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on Thursday after he pleaded guilty in 2018 for his involvement in a multi-billion dollar scandal involving Malaysia's sovereign fund 1MDB, Reuters reported. Leissner's conduct was "brazen and audacious," judge Margo Brodie said during sentencing. While his cooperation with the government was taken into account, it did not make up for the harm caused by the corruption at the highest levels in several countries, the judge said. READ MORE | | SEC Dismisses Lawsuit Against Binance
The Securities and Exchange Commission dismissed its lawsuit against Binance and its billionaire founder Changpeng Zhao, the agency’s latest move to wind down Biden-era enforcement actions against the crypto industry, the Wall Street Journal reported. In a Thursday court filing, attorneys for the SEC, Binance and Zhao signed on to the agency’s decision to dismiss the 2023 lawsuit. The filing noted that the SEC recently created a “crypto task force” aimed at crafting a new regulatory framework for digital assets, part of a broader effort by the Trump administration to create a friendlier environment for the industry. (Subscription required.) READ MORE
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June 18-20 | Chicago, Ill. | | ABI Northeast Bankruptcy Conference & Consumer ForumOmni Mt. Washington Resort
July 14-16 | Bretton Woods, NH. | | | | |  | | Daily Roundup | | | | | ‘Bellwether of Risks’: What ‘Buy Now, Pay Later’ Defaults Say About the Consumer
For months, economists have warned that consumers faced an affordability crunch, a prediction supported by a lousy first quarter G.D.P. report. Now, new data suggests that there’s a credit crisis brewing: a rising number of defaults for “buy now, pay later” loans, the typically zero-interest debt used for things like sneaker purchases and DoorDash deliveries, the New York Times reported. In the Biden era, the Consumer Financial Protection Bureau warned that pay-later customers would be especially vulnerable if the economy worsened, and called for measures to safeguard them. That’s in jeopardy as President Trump has essentially tried to dismantle the watchdog. READ MORE | | California Trucking Company Owner Pleads Guilty to PPP Fraud
The owner of two trucking companies in the Fresno, California, area pleaded guilty Tuesday to one count of theft of government property in connection with loans he took under the pandemic-era Paycheck Protection Program, Freight Waves reported. Gurjeet Bath pleaded guilty before the U.S. District Court for the Eastern District of California. The indictment was filed in August 2024. READ MORE | | Thrifty Ice Cream to Close Around 500 Stores Nationwide
The fallout from the 2020 pandemic continues to affect businesses around the country, and a long-standing ice cream chain is set to become a casualty. As Rite Aid has filed for chapter 11 bankruptcy, the company will close roughly 500 Thrifty Ice Cream locations within stores around the country. Since the Thrifty Ice Cream locations are inside the pharmacies, the company won't be able to sell them as a separate asset. READ MORE | | U.S. Pending Home Sales Fall Sharply in April
Contracts to buy U.S. previously owned homes fell more than expected in April as rising mortgage rates and economic uncertainty weighed on demand, Reuters reported. The National Association of Realtors (NAR) said yesterday that its Pending Home Sales Index, based on signed contracts, dropped 6.3% to 71.3 last month. READ MORE | | | | |
