 | | Featured Premium Content | | | | | Debtwire: LevFin Highlights 1Q25
Leveraged finance (LevFin) issuance across the U.S. and European institutional loan and high-yield (HY) bond markets reached USD 509bn in 1Q25 year-to-date (YTD), broadly in line with the first quarter of 2024 and 6% down on 4Q24, according to a report from Debtwire. READ MORE | | | | | SPONSORED CONTENTPredatory Uptiering: Three Steps to Protect Against Being Primed While uptiering disputes are not new, the loan market has seen an uptick in recent years. If not careful, lenders can lose their lien claim positions to a newer, senior lender. SRS Acquiom explains the primary mechanisms of predatory uptiering and identifies steps lenders can take to protect against it—all in one easy-to-reference page. GET THE INSIGHTS | | |  | | Editor's Picks | | | | | Nearly 400,000 FTX Users Risk Losing $2.5 Billion in Repayments
Nearly 400,000 creditors of the bankrupt cryptocurrency exchange FTX risk missing out on $2.5 billion in repayments after failing to begin the mandatory Know Your Customer (KYC) verification process, CoinTelegraph.com reported. Roughly 392,000 FTX creditors have failed to complete or at least take the first steps of the mandatory Know Your Customer verification, according to an April 2 court filing in the U.S. Bankruptcy Court for the District of Delaware. FTX users originally had until March 3 to begin the verification process to collect their claims. READ MORE | | Rite Aid Weighs Repeat Bankruptcy Filing
Rite Aid is weighing a possible repeat bankruptcy after its recent financial restructuring failed to put the drugstore chain on a sustainable path, WSJ Pro Bankruptcy reported. The Philadelphia-based company has also been pursuing a sale of some or all of its business as a potential alternative to a chapter 11 filing, the people said. Rite Aid has been working with law firm Paul Weiss to advise it on its options, they said. A group of senior bondholders took control of the company during its latest restructuring. READ MORE | | Jackson Walker Makes Deals in Bankruptcy Judge Romance Suits
Jackson Walker LLP settled with Basic Energy Services Inc.'s liquidation trustee in the first of a series of deals related to the law firm’s failure to disclose the romance between a onetime partner and a prominent judge, Bloomberg Law reported. More settlements in other bankruptcy cases involving the Texas firm will be filed in the coming days, Jackson Walker said in a statement to Bloomberg Law. The firm has agreed to pay $783,000 to resolve potential claims from Basic Energy’s trustee related to the once-secret romance, according to a motion filed Friday in the U.S. Bankruptcy Court for the Southern District of Texas. READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI Annual Spring Meeting Marriott Marquis
April 24-26 | Washington, D.C. | | ABI International Latin America Symposium Charleston Santa Teresa Cartagena
May 12-14 | Cartagena, Colombia | | | | |  | | Daily Roundup | | | | | Sale of Roger Williams, Fatima Hospitals Inches Closer to Completion with Bond Sale Approved
Rescuing Roger Williams Medical Center and Our Lady of Fatima Hospital from owner Prospect Medical Holdings has been a complicated and long-winding journey, even before Prospect filed for chapter 11 bankruptcy in January. The Rhode Island Health and Educational Building Corp. authorized the sale of up to $165 million in taxable and tax-exempt bonds by a 4-1 vote Thursday. READ MORE | | Illinois Trucking Company with 250 Drivers Abruptly Ceases Operation
An Illinois-based trucking and logistics company has notified its 250 drivers that the carrier is ceasing operations immediately, Freight Waves reported. Truck drivers for LTI Trucking Services said they received a fleetwide message Wednesday stating the company was closing. READ MORE | | Federal Reserve Chair Jerome Powell Says Trump Tariffs Likely to Raise Inflation and Slow U.S. Economic Growth
The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth for the U.S. economy, Federal Reserve Chair Jerome Powell said on Friday, the Associated Press reported. Powell said that the tariffs, and their likely impacts on the economy and inflation, are “significantly larger than expected.” He also said that the import taxes will probably lead to “at least a temporary rise in inflation,” but added that “it is also possible that the effects could be more persistent.” READ MORE | | Cinema Group Pushes for Movies to Stay in Theaters Longer
Movie theater owners are making a new push to keep films in cinemas for a longer period before they are available for audiences to watch at home, Reuters reported. Cinema United, a trade organization formerly known as the National Association of Theatre Owners, called on Tuesday for a minimum 45-day window of exclusivity for all films to help boost box offices still hovering below pre-pandemic levels. READ MORE | | Govoni Pleads the Fifth as Court Expands Search for Missing Trust Fund Money
For the first time since being accused of taking $100 million from medical trust funds, Clearwater, Fla., businessperson Leo Govoni faced questions in a courtroom Friday morning as bankruptcy officers sought to expand their search for the missing money, the Tampa Bay Times reported. Govoni took the witness stand as bankruptcy attorneys quizzed him about his ownership of more than two dozen companies for which they found paperwork at his offices on 49th Street North. The court previously banned Govoni from the building and granted bankruptcy officers control of the premises and several of his companies. READ MORE | | | | |
