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ABI Northeast Materials: AI and the Law: Transformation, Tensions and Tools
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A panel at ABI's Northeast Bankruptcy Conference examined issues surrounding the use of AI in bankruptcy practice. READ MORE
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SPONSORED CONTENT
Predatory 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
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 | | Editor's Picks |
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Bankruptcy Trustee Sues Antonio Brown to Sell $3 Million Home
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A bankruptcy trustee liquidating Antonio Brown’s estate sued the former NFL wide receiver to take over and sell an Odessa, Fla., residence purchased in 2021 for $3 million, Bloomberg Law reported. Brown purchased the house located at 8609 Dolce Vita Lane through an LLC entity and used the Tampa Bay area home as a primary residence before filing for bankruptcy last year, Chapter 7 Trustee Les S. Osborne said in a complaint filed Wednesday in the U.S. Bankruptcy Court for the Southern District of Florida. (Subscription required.) READ MORE
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Banks Are Getting Pickier About Whom They Want as Credit Card Customers
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Banks are making credit cards harder to get — for some customers. Lenders opened fewer cards in the second quarter, according to earnings reports from major issuers, the Wall Street Journal reported. They raised qualification requirements for lower-end customers that tend to be at greater risk of missing payments. (Subscription required.) READ MORE
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At Home Canceling Some Store Closures, Despite Bankruptcy
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At Home filed for bankruptcy last month and said that it would close 26 "underperforming" stores by the fall. Now, the retail chain announced that two of those stores will stay open, USA Today reported. READ MORE
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 | | Upcoming Events |
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2025 Southeast Bankruptcy Workshop
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The Ritz-Carlton, Amelia Island
July 24-27 | Amelia Island, Fla.
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Midwest Regional Bankruptcy Seminar
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The Westin Cincinnati
August 12 | Cincinnati, Ohio
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 | | Daily Roundup |
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Chicago Arts College Cut to Junk as Falling Enrollment Bites
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A 135-year-old arts college in downtown Chicago had its credit rating downgraded to junk, the latest small school to see its finances bruised by declining enrollment, Bloomberg News reported. Columbia College Chicago was lowered one notch to BB+ from BBB- by S&P Global Ratings on Tuesday. The rating company said the new junk status and negative outlook reflect the school’s falling headcount and diminished demand, “which we expect will limit management’s ability to stabilize operations.” (Subscription required.) READ MORE
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California Children’s Shoe Retailer Amiga Shoes to Liquidate
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Amiga Shoes Factory Inc. located in Industry, Calif., ciled a chapter 7 liquidation petition in a California bankruptcy court in Los Angeles on Wednesday, WWD.com reported. The petition listed one unsecured creditor, a service center connected to a small business administration loan in the amount of $150,000. READ MORE
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Wall Street Giant Bets $250M on Struggling U.S. Farmers in High-Stakes Credit Play
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Carlyle Group is making a $250 million bet on America's embattled farmers right as bankruptcies across the agriculture sector hit a post-2020 high. Through a forward flow agreement, Carlyle has committed to buying loans originated by FarmOp Capital, a lender focused on helping crop producers bridge the gap between planting and harvest. READ MORE
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Puerto Rico Ends New Fortress Talks on $20 Billion LNG Deal
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Puerto Rico is ending attempts to negotiate a multibillion-dollar liquefied natural gas contract with New Fortress Energy Inc. after the company refused to accept the terms of an amended deal, one of the negotiators said, Bloomberg News reported. Osvaldo Carlo Linares, the president of Recoms Group, the island’s third-party procurement office, said New Fortress was not willing to discuss changes to the contract and missed a key deadline. READ MORE
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