 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Solar-Panel Installer Sunnova Prepares for Bankruptcy Filing Within Weeks
Sunnova Energy International, one of the largest solar-panel installation companies in the U.S., is preparing to file for bankruptcy within weeks following struggles with an $8.5 billion debt load and waning liquidity, WSJ Pro Bankruptcy reported. Earlier this month, the Houston-based company entered into a 30-day grace period that expires Wednesday after electing to skip a bond interest payment on $400 million in senior notes maturing in 2028. The publicly traded company said at the time it was in discussions with stakeholders to reduce debt and increase its financial flexibility. READ MORE | | | | | SPONSORED CONTENTDefault Rate May Not Tell the Whole Story The expected increase in loan defaults in 2024 never materialized. But while corporate credit health appears strong on the surface, there are signs of potential weakness underneath. This article examines current trends to help you stay informed about silent loan defaults, private credit default trends, impacts on maturities, and more. READ MORE | | |  | | Editor's Picks | | | | | 23andMe Will Have Court-Appointed Overseer for Genetic Data in Bankruptcy
Genetic testing company 23andMe agreed on Tuesday to allow a court-appointed overseer to take charge of ensuring customers' genetic data remains protected during the company's bankruptcy, settling a dispute with several U.S. states, Reuters reported. Those states had argued the company was not taking data security seriously enough. Bankruptcy Judge Brian Walsh approved the agreement at a court hearing in St. Louis, Missouri, ordering the appointment of a consumer protection ombudsman who will be empowered to review 23andMe's handling of customers' genetic information and its security policies. READ MORE | | New Orleans Catholic Diocese Ordered to Defend Bankruptcy Case from Dismissal
In a major development for the second-oldest Catholic diocese in the country, Bankruptcy Judge Meredith Grabill’s has ordered the Archdiocese of New Orleans to appear in court in June and show why its five-year-old bankruptcy case should not be dismissed, The Telegraph reported. Judge Grabill’s order suggests little concrete progress has been made since 13 September 2024, when the archdiocese and a committee representing more than 500 clergy abuse claimants filed competing plans for settling the bankruptcy. Those two plans were worlds apart, with the church offering to pay the survivors an average of $125,000 per claimant and the committee seeking an average of about $2m per claimant. READ MORE | | Trump to Offer Automakers Some Relief on His 25% Tariffs
President Donald Trump will sign an executive order Tuesday to relax some of his 25% tariffs on autos and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers, the Associated Press reported. Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI International Latin America Symposium Charleston Santa Teresa Cartagena
May 12-14 | Cartagena, Colombia | | ABI Central States Bankruptcy Workshop The Ritz-Carlton, Chicago
June 18-20 | Chicago, Ill. | | | | |  | | Daily Roundup | | | | | Big Lots to Reopen More Than 100 Shuttered Stores After Bankruptcy Filing
Big Lots is about to reopen 132 stores that it had closed last year due to its bankruptcy filing, the chain’s new owners announced, the New York Post reported. The shuttered stores that will reopen in May are in 14 states, mostly in the south, including Alabama, Kentucky, North Carolina, Tennessee and Virginia. READ MORE | | Job Openings Fall More Than Expected in March, Hover Near 4-Year Low
Job openings slid in March to sit near a four-year low as the labor market continued to cool, YahooFinance.com reported. New data from the Bureau of Labor Statistics showed 7.19 million jobs open at the end of March, a decrease from the 7.48 million seen in February. Job openings in March hit their lowest level since September 2024 and were near levels not seen since December 2020. READ MORE | | Retailers Fear Toy Shortages at Christmas as Tariffs Freeze Supply Chain
Toy makers, children’s shops and specialty retailers are pausing orders for the winter holidays as the import taxes cascade through supply chains. Factories in China produce nearly 80 percent of all toys and 90 percent of Christmas goods sold in America, the New York Times reported. Some business owners, citing how crucial holiday sales are to their bottom lines, are consulting bankruptcy lawyers. READ MORE | | | | |
