 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Solar Bellwether’s Bankruptcy Shows Green Energy’s Woes Under Trump
One of America’s largest rooftop-solar installation businesses filed for chapter 11 Monday, a stark illustration of the strains haunting the U.S. clean-energy sector as shifting federal policies shake investor confidence, WSJ Pro Bankruptcy reported. Sunnova Energy International, once a poster child for America’s residential renewable energy boom with a market value above $5 billion and more than 400,000 customers at its peak, plans to sell or wind down its assets in bankruptcy. Now a penny stock with $8.9 billion in debt, Sunnova in recent months struggled to take on new business providing solar-panel installations, energy storage and financing for residential customers. 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. Download the Guide | | | | |  | | Editor's Picks | | | | | U.S. Corporate Defaults to Rise on Higher-for-Longer Funding Costs, Says Deutsche Bank
The rate at which riskier U.S. companies default will increase next year, Deutsche Bank said in a Monday note, as a result either of weakening economic growth or the pressure of higher interest payments, Reuters reported. The investment bank sees default rates for U.S. speculative grade companies — also known as high yield or junk — rising from their current 4.7% to 4.8% by the second half of 2026. READ MORE | | Illinois Trucking Company Files for Bankruptcy
A Franklin Park, Ill.-based trucking company has filed for chapter 11 bankruptcy, Freight Waves reported. Nortia Logistics filed for bankruptcy in the U.S. Bankruptcy Court for the Northern District of Illinois on Monday. According to the bankruptcy filing obtained by FreightWaves, Nortia Logistics has $1 million-$10 million in liabilities to one to 49 creditors. The company has $1 million-$10 million in assets. READ MORE | | Failed Muni Bond Draws FBI and Sparks ‘Ponzi-Like Fraud’ Claims
Before the lawsuits started piling up in courtrooms across Connecticut, before his employer accused him of running a “massive Ponzi-like fraud,” and before the FBI showed up, Robert Cappelletti looked well on his way to pulling off one of the greatest muni-bond coups of all time, Bloomberg News reported. The housing agency he ran in Groton, a sleepy town of some 40,000 people along Connecticut’s Thames River, would sell $750 million of bonds to jumpstart a $4 billion project to transform a bunch of run-down shopping plazas into a sprawling, up-scale development. There’d be a new train station, a hospital, almost 2,000 apartments and dozens of shops and restaurants. It would have been the biggest local bond issue in the state’s history and expanded the tiny Groton agency far beyond its role managing two apartment complexes. READ MORE
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June 11-13 | Park City, Utah | | | | | | |  | | Daily Roundup | | | | | NY Fed Finds Moderating Inflation Expectations in May
Americans’ anxiety about the future path of inflation eased in May, as they also grew more upbeat about the state of their personal finances, a report released on Monday by the Federal Reserve Bank of New York said, Reuters reported. The bank reported in its Survey of Consumer Expectations for May that the outlook for inflation across all the horizons it measures retreated. A year from now, survey respondents see inflation at 3.2% versus 3.6% in April, while three years from now it’s seen at 3% versus 3.2%. Five years from now, inflation is projected at 2.6% from the prior month’s 2.7%. READ MORE | | U.S. Ocean Container Imports Tumble in May as China Tariffs Take Hold
U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145% tariffs took hold, supply chain technology provider Descartes said on Monday, Reuters reported. Overall U.S. seaborne imports in May tumbled 7.2% from the year earlier to 2.18 million 20-foot equivalent units — snapping a streak of near-record increases fueled by companies frontloading goods to avoid higher duties. READ MORE | | Former Plaintiffs’ Lawyer Tom Girardi Sentenced to More Than 7 Years in Prison
Disbarred plaintiffs’ personal injury attorney Thomas Vincent Girardi was sentenced today to 87 months in federal prison for leading a years-long scheme in which he embezzled tens of millions of dollars of settlement money that belonged to his clients, some of whom awaited payment for treatment of severe physical injuries, according to a DOJ press release. Girardi was sentenced by United States District Judge Josephine L. Staton also ordered Girardi to pay a $35,000 fine and $2,310,247 in restitution. Judge Staton ordered Girardi to surrender to federal authorities no later than July 17. READ MORE | | World Bank Sees U.S. Growth Rate Halving as Tariffs Slow Global Economy
Economic growth in the U.S. may halve this year as a result of President Trump’s tariff policies, while the global economy is set to suffer a more modest, but still significant, slowdown, the World Bank said yesterday. The Washington D.C.-based development bank said it expects the world’s largest economy to grow by just 1.4% in 2025, a sharp deceleration from the 2.8% expansion recorded in 2024. In its January report on the outlook for the global economy, the World Bank forecast a 2.3% increase in U.S. gross domestic product. READ MORE | | | | |
