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ABI Conference Materials: Artificial Intelligence and Ethics
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As artificial intelligence rapidly reshapes the legal profession, it brings with it a host of ethical considerations for bankruptcy practitioners, judges and legal professionals. A panel at ABI's Midwest Regional Bankruptcy Seminar explored the intersection of AI and professional responsibility, focusing on such issues as the duty of competence, confidentiality, bias in algorithms, and the responsible use of AI in legal research, drafting and case analysis. READ MORE
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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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Alex Jones’ Infowars Assets to Be Taken Over by Receiver
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A Texas state court appointed a receiver to administer right-wing conspiracy theorist Alex Jones’ media empire, which owes roughly $1.3 billion in judgments tied to his false claims that the 2012 Sandy Hook Elementary School shooting was a hoax, Bloomberg Law reported. The order granting the request from some Sandy Hook victims’ families allows Gregory S. Milligan to take possession and sell assets of Free Speech Systems LLC, the parent company to Jones’ Infowars show. Judge Maya Guerra Gamble of the Travis County District Court signed off on the families’ motion during a hearing on Wednesday. READ MORE
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City Council Votes for Resolution to Support Southern California Hospital Workers While Bankruptcy Proceeds
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The Culver City Council on Monday night passed a resolution affirming the City’s commitment to protecting frontline healthcare workers’ jobs and quality patient care at Southern California Hospital at Culver City, the Culver City Crossroads reported. The resolution comes amid ongoing bankruptcy proceedings by the hospital’s corporate owner, raising concerns about the future of hundreds of healthcare workers, and the community’s only hospital. The Southern California Healthcare System filed for chapter 11 protection in Texas on January 12, 2025, and the case is still in process. READ MORE
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Aon Accused of Contributing to Collapse of Startup Vesttoo
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Insurance broker Aon Plc was accused in a civil lawsuit of helping cause the collapse of Vesttoo Ltd., an Israeli insurance startup once valued at $1 billion that went bankrupt after disclosing certain documents underpinning its business were falsified, Bloomberg News reported. A trustee responsible for recovering money for creditors of Vesttoo, which filed chapter 11 in 2023 and subsequently liquidated, is suing Aon, according to a complaint unsealed on Wednesday in Delaware bankruptcy court. 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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White House Fires Another Member of Puerto Rico Oversight Board
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The White House has fired another member of the watchdog board that oversees Puerto Rico’s finances, Bloomberg News reported. “The Oversight Board has been informed by the White House that the administration of President Donald Trump terminated Andrew G. Biggs from his position as a member,” the board said in a statement on Wednesday. The body is still continuing its day-to-day operations and its work maintaining the “fiscal responsibility” of the island, the statement said. (Subscription required.) READ MORE
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Whiskey Maker Uncle Nearest Is in a Fiscal Bind
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Since its founding in 2016, Uncle Nearest — named for the enslaved Black distiller who may have helped create Jack Daniel’s — has been one of the fastest-growing new whiskey brands in America, racking up a brace of awards and reaching a self-declared valuation of $1.1 billion in 2024. Now, during an extended downturn in the spirits industry, it has joined a growing list of distilling start-ups to hit on hard times: On Thursday, a federal judge in Tennessee ordered that the company be placed in receivership following a lawsuit by one of its largest lenders, the New York Times reported. READ MORE
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Guy A. Van Baalen Appointed as Acting U.S. Trustee for Florida, Georgia, Puerto Rico, and U.S. Virgin Islands
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Guy A. Van Baalen has been appointed by Attorney General Pamela Bondi as the Acting U.S. Trustee for Florida, Georgia, Puerto Rico, and the U.S. Virgin Islands (Region 21). Van Baalen replaces Mary Ida Townson, who is resigning August 16 after four years of distinguished service to the U.S. Trustee Program (USTP), according to a DOJ press release. Van Baalen joined the USTP in 1989 as an attorney in the field office in Buffalo, New York, and has held several leadership roles. Since 2019, he has served as the Assistant U.S. Trustee in charge of the office in Tampa, Florida, and he will remain in that position while overseeing Region 21. READ MORE
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Trump Warns of Economic Disaster if Court Strikes Down Tariffs
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The Trump administration’s top lawyers urged a federal court this week to uphold its sweeping global tariffs or risk “financial ruin,” warning that the United States could slip into an economic depression if an adverse ruling forces the government to refund billions of dollars in duties, the New York Times reported. While experts broadly disputed that a losing verdict would trigger a calamity of that magnitude, many said the government’s extraordinary assertions underscored the risks looming over President Trump, who has widened the scope of his punishing trade war even while its legal basis remains unsettled. READ MORE
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U.S. Charges Two in $275 Million Water Vending Machine Ponzi Case
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A Washington state entrepreneur and a former Jefferies portfolio manager were criminally charged on Thursday over a Ponzi scheme and related fraud involving water vending machines that totaled as much as $275 million, with military veterans among the victims, U.S. authorities said, Reuters reported. Ryan Wear, the former owner of Water Station Management, was charged in Manhattan with securities and wire fraud. Jordan Chirico, who worked at Jefferies' Leucadia Asset Management unit, was charged with securities and investment adviser fraud. READ MORE
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Nobody’s Buying Homes, Nobody’s Switching Jobs—and America’s Mobility Is Stalling
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People are moving to new homes and new cities at around the lowest rate on record. Companies have fewer roles for entry-level workers trying to launch their lives. Workers who do have jobs are hanging on to them. Economists worry the phenomenon is putting some of the country’s trademark dynamism at risk, according to a Wall Street Journal analysis. (Subscription required.) READ MORE
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