 | | Featured Premium Content | | | | | BankruptcyData Report: Private Credit Cracks in Healthcare, Software, and Chemicals
This week's Business Development Company (BDC) filings review is the final in BankruptcyData’s 4Q24 series, highlighting updates from Jefferies, TCW Group, and Investcorp and others, with Healthcare and Medical, Computers and Software, and Chemicals and Allied Products as the top three distressed sectors across 69 BDC portfolio companies. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes?With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | Asbestos Defendants Seek to Prevent Deletion of Claim Records
Corporate defendants in asbestos lawsuits are seeking to stop records of past compensation payments from being deleted after bankruptcy courts authorized broad probes in recent years into potentially inflated asbestos claims filed by personal-injury lawyers, WSJ Pro Bankruptcy reported. Lawyers representing asbestos defendants — including Johnson & Johnson, Dow, Rohm and Haas, and Georgia-Pacific — sent private letters earlier this week to the administrators of multibillion-dollar compensation trusts created from bankrupt asbestos manufacturers, demanding that records and data be preserved. READ MORE | | CMX Cinemas Weighs Closing Theaters as Box Offices Struggle
Cinemex Holdings USA, the owner of the CMX Cinemas movie theater chain, is exploring options that may include selling assets or closing locations, Bloomberg News reported. The dine-in theater chain, which went through a bankruptcy during the pandemic, is getting advice from A&G Real Estate Partners as it examines its footprint. READ MORE | | Pacifica Senior Living Files for Chapter 7 Bankruptcy
Senior living operator Pacifica Senior Living has filed for filed for chapter 7 bankruptcy, SeniorHousingNews.com reported. The San Diego-based company has total liabilities of between $10 million and $50 million, between one and 49 creditors and total assets of $50,000 or less, according to a March 24 filing in California Southern Bankruptcy Court. READ MORE
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May 14-15 | Las Vegas, Nevada | | | | |  | | Daily Roundup | | | | | China Retaliates in Global Trade War with Sweeping Tariffs on U.S. Goods
China announced additional tariffs of 34% on U.S. goods on Friday, the most serious escalation in a trade war with President Donald Trump that has fed fears of a recession and triggered a global stock market rout, Reuters reported. Beijing also announced it was adding several U.S. entities to an export control list and classifying others as an "unreliable" entity. Nations from Canada to China have readied retaliation in an escalating trade war after Trump raised U.S. tariff barriers to their highest level in more than a century this week, leading to a plunge in world financial markets. READ MORE | | U.S. Job Growth Beats Expectations in March; Unemployment Rate Ticks Up Slightly
The U.S. economy added far more jobs than expected in March, but President Donald Trump's sweeping import tariffs could test the labor market's resilience in the months ahead amid sagging business confidence and a stock market selloff, Reuters reported. Nonfarm payrolls increased by 228,000 jobs last month after a downwardly revised 117,000 rise in February, the Labor Department said in its closely watched employment report on Friday. The unemployment rate rose to 4.2% from 4.1% in February. The labor market is being underpinned by low layoffs, generating solid wage gains that are helping to sustain the economic expansion. READ MORE | | Capital One Deal for Discover Clears Justice Dept. Hurdle
Capital One cleared a significant obstacle to its proposed acquisition of Discover Financial Services after the Justice Department told regulators that it didn’t see sufficient competition concerns to block the deal, the New York Times reported. The deal, a $35 billion merger of some of the nation’s largest credit card companies announced in February 2024, was initially met by concerns that it could harm consumers. During the Biden administration, the Justice Department told regulators that it was concerned, in part, about the deal’s impact on potential credit card users who had no credit. READ MORE | | Apartment Shortage Draws a Major U.S. Landlord to the Midwest
Morgan Properties, the country’s largest privately held apartment landlord, has agreed to pay $501 million for 11 multifamily properties across the Midwest, the latest wager that the region’s lack of supply provides fertile ground for rent hikes, the Wall Street Journal reported. READ MORE | | | | |
