 | | Featured Premium Content | | | | | ABI Materials Highlight: Where Jurisdiction Reigns Supreme: Planning a Cross-Border Proceeding Post-Purdue
An expert panel at the 2025 ABI International Caribbean Insolvency Symposium discussed the opportunities that Purdue may present to offshore jurisdictions, including the future of nonconsensual third-party releases and chapter 15 cases. READ MORE | | | | | SPONSORED CONTENTThe Pervasive Repricing Wave of 2024 Will Likely Continue Into 2025What role will investors play? What is the impact on lenders? Will declining interest rates end the trend? SRS Acquiom explores the dynamics driving the wave of repricings and equips you with the insights you need to determine whether a repricing strategy is right for your loan. DOWNLOAD THE INSIGHTS | | |  | | Editor's Picks | | | | | B. Riley Jumps After Paying Back Nomura With Oaktree Loan
B. Riley Financial Inc. lined up new funding to replace Nomura Holdings Inc., erasing what’s left of a loan tied to an ill-fated buyout deal that has hobbled the brokerage and investment firm, Bloomberg News reported. Oaktree Capital Management LP, the investment firm led by Howard Marks, stepped in for the second time in less than a year to help B. Riley, this time with a deal that could give Oaktree a 6% stake. Oaktree provided a $160 million senior secured debt facility for three years that comes with a double-digit interest rate. READ MORE | | CFPB Drops Slew of Cases Including Against Capital One
The Consumer Financial Protection Bureau CFPB yesterday dropped a series of enforcement actions against financial services companies accused of wrongdoing under the prior administration, including a major case against Capital One for allegedly avoiding billions in interest payments. President Donald Trump is moving rapidly to dismantle the CFPB, which he has said should be eliminated. The dismissals occurred while his nominee to head the CFPB, Jonathan McKernan, was on Capitol Hill testifying before the Senate in a confirmation hearing. READ MORE | | Edison Says It Acted Prudently Even If Found Liable for Fire
Edison International said transmission operations of its Southern California utility were managed responsibly, even if investigators determine the equipment sparked a deadly fire near Los Angeles, Bloomberg News reported. The company is confident Southern California Edison “would make a good faith showing that its conduct with respect to its transmission facilities in the Eaton Canyon area was consistent with actions of a reasonable utility,” Edison Chief Executive Officer Pedro Pizarro said during the company’s earnings call Thursday. READ MORE
MORE NEWS BELOW | | |  | | Upcoming Events | | | | | ABI Distressed Real Estate SymposiumPendry Newport Beach
March 26-28 | Newport Beach, Calif. | | ABI Annual Spring Meeting Marriott Marquis
April 24-26 | Washington, D.C. | | | | |  | | Daily Roundup | | | | | U.S. Pending Home Sales Tumble to Record Low in January
Contracts to buy U.S. previously owned homes plunged to a record low in January as higher mortgage rates and house prices reduced affordability for prospective buyers, Reuters reported. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 4.6% last month to 70.6, an all-time low. READ MORE | | SEC Files to Dismiss Lawsuit Against Coinbase
The U.S. Securities and Exchange Commission on Thursday filed to dismiss its lawsuit against Coinbase, the largest U.S. cryptocurrency exchange, putting an end to a legal battle as the regulator moves to change course under President Donald Trump, Reuters reported. The SEC sued Coinbase in 2023, alleging the exchange flouted the agency's rules and facilitated trading in at least 13 crypto tokens that it said should have been registered as securities. READ MORE | | SEC Declares Memecoins Are Not Subject to Oversight
The Securities and Exchange Commission said on Thursday that so-called memecoins — novelty digital assets — are not subject to regulatory oversight because they are not considered securities, the New York Times reported. The determination could have big ramifications for the crypto industry and President Trump, who issued his own memecoin days before his inauguration. READ MORE | | Trump Says Canada, Mexico Tariffs to Take Effect, Adds New China Duty
President Donald Trump said 25% tariffs on Canada and Mexico are on track to go into place on March 4, and said he would impose an additional 10% tax on Chinese imports, moves that would deepen his fight with the largest U.S. trading partners, Bloomberg News reported. The president paused the sweeping duties on Canada and Mexico on Feb. 3 for one month after both countries’ leaders announced new border security measures. But the U.S. president had recently sowed confusion about whether they would take effect once the grace period ended. READ MORE | | SoftBank, Mnuchin Weigh Deal to Salvage $800 Million Cyber Firm
Former U.S. Treasury Secretary Steven Mnuchin and SoftBank Group Corp.’s Vision Fund are discussing a deal to salvage Cybereason Inc., a onetime Silicon Valley unicorn that has lost most of its value amid boardroom turmoil, Bloomberg News reported. A group of four investors — Mnuchin’s Liberty Strategic Capital, the Vision Fund, All Blue Capital and Andra Capital — plans to put about $100 million into Cybereason and increase their control. READ MORE | | Applications Due Today for ABI’s Diversity Mentoring Program
Applications are being accepted through today for ABI’s Diversity Mentoring Program, hosted by our Diversity, Equity and Inclusion Committee to connect active or recently graduated business and law students with experienced insolvency professionals and ABI members who are offering professional development guidance. Throughout the program, mentors and mentees will meet bi-monthly to discuss a variety of topics with resources from ABI and members of the reorganization community, including judges, trustees, attorneys and accountants. For more information about the Diversity Mentorship Program and to apply to be a mentee for 2025-26, please visit ABI’s Diversity and Inclusion website at diversity.abi.org. | | | | |
