 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: A Berkshire Insurance Bet Went Bad. It Wants a Bankruptcy Court to Limit the Damage.
Warren Buffett’s Berkshire Hathaway did well for itself over the years by taking responsibility for other companies’ asbestos-related liabilities, betting that it could grow assets faster than it would have to pay out injury claims. The conglomerate, however, didn’t foresee a recent explosion in lawsuits alleging asbestos exposure through cosmetic talc products. Berkshire is turning to bankruptcy court to try to cap its financial exposure from its 2007 acquisition of a defunct supplier of cosmetic talc, one of Berkshire’s many asbestos-related deals over the past few decades, WSJ Pro Bankruptcy reported. After buying that talc supplier, Whittaker Clark & Daniels, for a nominal $1, Berkshire now faces a nearly half-billion dollar bill — and potentially more — to resolve asbestos claims tied to the acquisition. READ MORE | | | | | SPONSORED CONTENTPredatory Uptiering: Three Steps to Protect Against Being Primed While uptiering disputes are not new, the loan market has seen an uptick in recent years. If not careful, lenders can lose their lien claim positions to a newer, senior lender. SRS Acquiom explains the primary mechanisms of predatory uptiering and identifies steps lenders can take to protect against it—all in one easy-to-reference page. Download the Guide | | |  | | Editor's Picks | | | | | April Consumer Chapter 7 Bankruptcy Filings Increase 16 Percent from Previous Year
The 30,961 individual chapter 7 filings in April 2025 represented a 16 percent increase over the 26,781 filings recorded in April 2024, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Total individual bankruptcy filings increased 10 percent in April 2025, to 47,323, up from the April 2024 individual filing total of 43,030. The 16,246 individual chapter 13 filings in April 2025 represented a slight increase from the 16,175 individual chapter 13 filings last April. READ MORE | | Retailer Claire’s to Defer Debt Interest Payments Amid Tariff Tensions
Claire’s Stores Inc. is choosing to defer interest payments on its debt as a way to conserve cash as the U.S.-China trade war roils retailer supply chains, Bloomberg News reported. The seller of kitschy tween jewelry plans to pay the interest with additional debt. The arrangement, known as payment-in-kind, is relatively rare but gaining in popularity as high interest-rates keep the cost to borrow elevated. READ MORE | | Employers Added 177,000 Jobs in April Despite Tariff Uncertainty
The U.S. labor market steadily added jobs last month despite jolting tariff announcements that many economists expect will give way to a trade policy-induced slowdown later this year, the Wall Street Journal reported. The Labor Department reported Friday that the U.S. added 177,000 jobs in April. The unemployment rate, which is based on a separate survey from the jobs figures, held steady at 4.2%. (Subscription required.) READ MORE
MORE NEWS BELOW | | | | |  | | Upcoming Events | | | | | ABI International Latin America Symposium Charleston Santa Teresa Cartagena
May 12-14 | Cartagena, Colombia | | ABI Rocky Mountain Bankruptcy Conference The Chateaux Deer Valley
June 11-13 | Park City, Utah | | | | |  | | Daily Roundup | | | | | U.S. Factory Orders Rose in March
Orders from U.S. factories grew in March, rising for a third straight month, the Commerce Department said on Friday, the Wall Street Journal reported. New orders hit $618.8 billion in March, up 4.3% from a month earlier. There was an especially sharp 27% month-over-month increase for orders of transportation equipment, which helped lift durable-goods orders by 9.2% overall. Orders for nondurable goods declined by 0.3%. (Subscription required.) READ MORE | | Judge Strikes Down Trump’s ‘Unconstitutional’ Executive Order Against Law Firm Perkins Coie
U.S. District Judge Beryl Howell struck down President Donald Trump’s executive order against Perkins Coie on Friday night, ruling his targeting of the law firm unconstitutional, MSNBC.com reported. In a 102-page opinion, Judge Howell excoriated Trump and called his efforts against Perkins Coie “an unprecedented attack” on the principles of the American judicial system. READ MORE | | Car Prices Expected to Rise as Tariffs on Parts Kick In
The United States imposed 25 percent tariffs on imported auto parts on Saturday that could sharply raise prices for new and used vehicles as well as for repairs and insurance, the New York Times reported. The latest tariffs, which President Trump ordered in March as part of his plan to promote domestic manufacturing, come after the 25 percent levies on imported cars that took effect in early April. This second round of duties on imported parts will have a broader impact because even cars made in the United States often have engines, transmissions, batteries or other components produced in other countries. READ MORE | | | | |
