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ABI Conference Materials: Restaurant and Franchise Issues in Chapter 11
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The restaurant and franchise sectors present unique challenges in chapter 11 restructurings, from complex lease negotiations to brand preservation and franchise agreement compliance. Whether representing debtors, creditors or franchisors, a recent panel at ABI's Mid-Atlantic Bankruptcy Workshop provided practical insights into navigating the distinctive legal and business hurdles faced by restaurants and franchises in chapter 11. READ MORE
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 | | Editor's Picks |
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Party City Settles Employee Layoff Class Action in Bankruptcy
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Party City Holdco Inc. agreed to a nearly $4 million settlement with former employees who were abruptly laid off last year as the party supply retailer headed into bankruptcy and announced it was going out of business, Bloomberg Law reported. Party City will grant priority claims of $10,100 to each of the 394 corporate headquarters employees who joined in litigation against the company and individual defendants right after it filed its second chapter 11 case in December. (Subscription required.) READ MORE
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Accounting Books Closed on Jeannette EMS Bankruptcy; More Than $400k Left Unpaid
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The Jeannette EMS bankruptcy case was closed this month and about $416,000 in unsecured claims were not paid, according to a final report, TribLive.com reported. Those unsecured claims included $46,594 the agency said it owed to cash advance lender Cloudfund LLC, $32,087 to Spartan Business Solutions and $10,428 to WEX, Inc., a financial technology provider, according to the report. READ MORE
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U.S. Consumers with Prime Credit Are Starting to Slip on Payments
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U.S. consumers with the highest credit scores are starting to fall behind in debt repayments, credit scoring company VantageScore said in a report published on Monday, in a sign that Americans' financial health may be deteriorating more broadly, Reuters reported. Late repayments over 90 days were up 109% year-over-year in the VantageScore superprime segment, while the prime segment posted a 47% increase year-over-year. READ MORE
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 | | Upcoming Events |
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Navigating Current Bankruptcy Filing Trends
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abiLIVE Webinar
September 5
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Midwestern Bankruptcy Institute
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Polsinelli Offices
October 16-17 | Kansas City, Mo.
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 | | Daily Roundup |
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Cars Are So Expensive That Buyers Need Seven-Year Loans
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Once rare, seven-year car loans are fast becoming the norm as average sale prices have surged 28% in five years to approach $50,000, Bloomberg News reported. In the second quarter of 2025, seven-year loans represented 21.6% of all new-vehicle financing, according to Edmunds.com. Six-year loans, at one time considered the upper end of the range, are now the most common, accounting for 36.1% of loans in the second quarter. READ MORE
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U.S. New Home Sales Fall in July; June Sales Revised Higher
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Sales of new U.S. single-family homes fell in July following a sharp upward revision to the prior month's sales pace, and the overall trend remained consistent with a housing market struggling in an environment of high mortgage rates, Reuters reported. New home sale units dropped 0.6% to a seasonally adjusted annualized rate of 652,000 units last month, the Commerce Department's Census Bureau said on Monday. The sales pace for June was upgraded to a rate of 656,000 units from the previously reported pace of 627,000 units. READ MORE
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Small Businesses Are Scrambling as U.S. Tariff Exemption Comes to an End
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International postal services are suspending shipments to the United States after an exemption on tariff duties for small packages is set to expire, CNN.com reported. Beginning Friday, the <em>de minimis</em> exemption, which allowed shipments of goods worth $800 or less to enter the United States duty free, will be eliminated. READ MORE
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U.S. Appeals Court Orders SEC to Review Short-Selling Rules
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A U.S. appeals court on Monday ordered the U.S. Securities and Exchange Commission to assess the economic impact of President Joe Biden-era rules aimed at boosting transparency of short sell trades, in a partial victory for hedge funds that brought the case, Reuters reported. The future of the rule is unclear. The review will now fall to the SEC's new leadership, led by Trump's Republican SEC chair Paul Atkins. In December 2023, three hedge fund associations sued in the 5th U.S. Circuit Court of Appeals to vacate the rules adopted earlier that year, arguing they could reveal confidential trading positions and potentially invite retaliation. READ MORE
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Lisa Cook Says She Will Not Step Down From the Fed Board
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Lisa Cook said that she would not step down from the Federal Reserve, hours after President Trump said that he was taking the extraordinary step of removing her from the central bank’s Board of Governors, the New York Times reported. Trump announced that the firing, which he said was effective immediately, earlier on Monday. He cited allegations that Cook may have falsified records in order to obtain favorable terms on a mortgage, even though she has not been charged with wrongdoing or convicted of a crime. READ MORE
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