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ABI Conference Materials: Need Good Advice About Debt Relief? Ask TikTok!
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A panel at ABI's Southeast Bankruptcy Workshop debunked prevalent social media myths and scams that complicate client advisement and the setting of realistic legal expectations. READ MORE
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SPONSORED CONTENT
New Insights from the Rise of Private Credit
How could the ongoing growth of private credit impact borrowing, investing, and lending strategies? Explore the insights in this deep dive from SRS Acquiom, including the latest data from 2025. Explore the Insights
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 | | Editor's Picks |
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Fitch: U.S. Corporate Defaults on Private Debt Rose in Q2
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U.S. corporate issuers defaulted on privately placed debt at a higher rate in the second quarter this year than in the first quarter, ratings agency Fitch Ratings said on Monday, Reuters reported. In its monitor of roughly 1,200 corporate borrowers of private credit, Fitch reported a default rate of 5.5% in the second quarter versus 4.5% in the first quarter. Eight different borrowers defaulted in the second quarter versus four in the first quarter, it found. READ MORE
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All ABI Books 50% Off Through Midnight Wednesday
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Through midnight tomorrow (EDT), ABI is offering 50% off all purchases at store.abi.org! Take advantage of this incredible limited-time offer by using coupon code ABISUMMER50 at checkout.
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Crypto Exec Do Kwon, Charged with Fraud, Expected to Plead Guilty
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Do Kwon, the South Korean cryptocurrency entrepreneur facing U.S. fraud charges over two digital currencies that lost an estimated $40 billion in 2022, is expected to enter a guilty plea, court records showed on Monday, Reuters reported. In a brief scheduling order, U.S. District Judge Paul Engelmayer said he had been advised that Kwon may change his plea and set a hearing for Tuesday at 10:30 a.m. EDT (1430 GMT) in Manhattan federal court. READ MORE
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Puerto Rico Board Firings Entangle Prepa Bankruptcy Dispute
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The upheaval of Puerto Rico’s financial oversight board is slowing down the bankruptcy of its power utility as the judge overseeing the case suspended a near-term filing deadline and asked for a status update on the board’s membership, Bloomberg News reported. The White House last week fired five of the seven members of the federal watchdog that monitors the commonwealth’s finances and manages the ongoing bankruptcy of Puerto Rico’s Electric Power Authority, called Prepa. The board must submit a report detailing how those firings may affect Prepa’s bankruptcy process by Aug. 25. (Subscription required.) READ MORE
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 | | Upcoming Events |
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Mid-Atlantic Bankruptcy Workshop
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The Hershey Lodge
August 18-20 | Hershey, Pa.
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Southwest Bankruptcy Conference
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The Ritz-Carlton Bacara
August 25-27 | Santa Barbara, Calif.
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 | | Daily Roundup |
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Spirit Airlines Raises Going-Concern Doubts, Months After Exiting Bankruptcy
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Spirit Airlines has warned of going-concern doubts, just months after emerging from bankruptcy as weak domestic demand and dwindling cash reserves strain its operations, Reuters reported. Adverse market conditions such as elevated domestic capacity and weak demand for leisure travel in the second quarter has resulted in a tough pricing environment for airline, it said in its quarterly report on Monday. READ MORE
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Capital One Agrees to $425 Million Class Action Settlement
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Capital One has agreed to a $425 million settlement to resolve claims that it failed to raise interest rates for 360 Savings accounts, WPIX reported. The settlement includes customers who maintained a Capital One 360 Savings account between Sept. 18, 2019, and June 16, 2025. READ MORE
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Wohali Files for Bankruptcy with Debt Totaling More Than $13 Million
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The real estate company spearheading the construction of a luxury housing development near Coalville, Utah, Wohali Land Estates, filed for bankruptcy in federal court last week with a reported debt totaling more than $13 million, the Park Record reported. The company had already been named as defendants in four separate civil lawsuits related to alleged financial mismanagement and voluntarily submitted a petition declaring chapter 11 bankruptcy on Friday. READ MORE
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Houston's District 7 Grill Blames Remote Work Shift in Bankruptcy Filing
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District 7 Grill, a chain of Houston restaurants that has been serving Downtown and Midtown diners for more than 20 years, has filed for chapter 11 bankruptcy, the Houston Chronicle reported. The law firm that filed the petitions on behalf of the chain told Chron it's due to a "change in demand of Houston's clientele." READ MORE
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Trump Extends China Tariff Deadline by 90 Days
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President Donald Trump on Monday delayed high U.S. tariffs on Chinese goods from snapping back into place for another 90 days, a White House official told CNBC. Those tariffs were set to resume Tuesday. But Trump signed an executive order hours beforehand that extends the deadline until mid-November, according to the official. READ MORE
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