Alcohol Chapter 11 cases expose how enterprise value increasingly depends on inchoate inventory, regulatory continuity, and channel access rather than tangible assets. This article examines why traditional consumer-case tactics fail, and how disciplined structuring and coordination can preserve value while avoiding unnecessary valuation and control litigation.

The IPO market delivered strong year-over-year results in 2025, with count up over 49% and capital raised rising 83%, despite concerning post-IPO price slides and a six-week federal government shutdown.

The OCC’s recent review of major banks “debanking” disfavored customers included the adult entertainment industry among the industries deemed targeted. The classification of adult businesses as debanked legal businesses, combined with stablecoin regulations, may give the adult industry an avenue to banking and payments it has long been denied.

The path to tariff refunds remains uncertain despite the Court of International Trade’s holding retaining jurisdiction and constraining the government’s ability to limit refunds due to liquidation. With time running out and the Supreme Court’s ruling looming, importers are still filing CIT cases to try to preserve their refund rights.

Kalshi faces new legal challenges from ‘Loss Recovery’ LLCs using state gambling laws. These cases are forcing Kalshi into an uphill battle to stay out of state court. The likely outcome is increased legal uncertainty around the question of federal preemption on event contract markets.

The seminal, decade-long case of Marchand v. Barnhill is set for a February trial, where the Delaware Court of Chancery might finally have the opportunity to shepherd in a new era of corporate precedent for Caremark claims.