 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: EchoStar Bondholders Engage Law Firm Ahead of Possible Bankruptcy
EchoStar bondholders have engaged Akin Gump Strauss Hauer & Feld ahead of a potential bankruptcy filing sparked by recent threats by federal regulators to revoke the company’s key wireless spectrum licenses, WSJ Pro Bankruptcy reported. The Englewood, Colo., owner of Dish TV and Boost Mobile opted in recent weeks to skip roughly $500 million in interest payments on several bonds, triggering 30-day grace periods. 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 | | | | | Nissan Supplier Marelli Files for Chapter 11, Secures $1.1 Billion in New Financing
Nissan supplier Marelli Corp filed for chapter 11 protection in the U.S. today, the Japanese auto parts company said in a statement, after months of uncertainty about its talks with creditors, Reuters reported. The maker of car interiors and lighting, which is owned by private equity firm KKR, said it had secured a commitment of $1.1 billion in financing from its lenders, and that around 80% of the lenders had signed an agreement to support its restructuring. READ MORE
Explore the many issues that arise when suppliers are unable to make deliveries of promised parts due to financial problems with ABI's Interrupted! Understanding Bankruptcy's Effects on Manufacturing Supply Chains. | | Dozens of States Sue to Block the Sale of 23andMe Data Without Customer Consent
Twenty-seven states and the District of Columbia on Monday filed a lawsuit in bankruptcy court seeking to block the sale of personal genetic data by 23andMe without customer consent, ABCNews.go.com reported. The lawsuit comes as a biotechnology company seeks the court's approval to buy the struggling firm. READ MORE | | Parishes Will Pay $80 Million in Buffalo Diocese’s $150 Million Bankruptcy Settlement
Parishes in the Diocese of Buffalo, New York, are set to pay a total of $80 million into the diocese’s $150 million bankruptcy settlement, with the funds due to be paid into a trust by July 15, OSVNews.com reported. Of that $150 million, the diocese will also directly pay $30 million, with its affiliated Catholic organizations contributing $10 million, and real estate sales covering the remainder, diocesan communications director Joe Martone said. READ MORE
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June 17 | New York, N.Y. | | | | | | |  | | Daily Roundup | | | | | Powin files for Chapter 11 Protection
Battery storage system integrator Powin filed for chapter 11 protection in New Jersey, Energy-Storage.news reported. Oregon-headquartered Powin said that the filing comes as part of a strategic effort to address its financial liabilities and secure its core business. Court filings listed Powin LLC and eight other debtors, including Powin China Holdings 1 and Powin China Holdings 2, and a subsidiary in Ontario, Canada, among others. READ MORE | | Charter Schools Financier Blames Bankruptcy on Spat With Backer
A major financier of U.S. charter schools filed bankruptcy, blaming pandemic-era subsidies that reduced demand for its services and a dispute with a top stockholder, New York investment firm Orthogon Partners Investment Management, Bloomberg Law reported. Charter School Capital has provided funding to about one in eight of the 8,000 charter schools in the US, the company said in court papers filed Monday. The company said its struggles go back to 2022 because public schools, including charter schools, accessed federal cash in response to the COVID-19 pandemic. (Subscription required.) READ MORE | | Trump Tariffs May Remain in Effect While Appeals Proceed, U.S. Appeals Court Rules
A federal appeals court allowed President Donald Trump's most sweeping tariffs to remain in effect on Tuesday while it reviews a lower-court decision blocking them on grounds that he had exceeded his authority by imposing them, Reuters reported. The decision by the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. means Trump may continue to enforce, for now, his "Liberation Day" tariffs on imports from most U.S. trading partners, as well as a separate set of tariffs levied on Canada, China and Mexico. READ MORE | | U.S. Small Business Sentiment Improves in May, But Uncertainty Rising
U.S. small-business confidence improved in May, likely because of a de-escalation in trade tensions between Washington and China, though uncertainty over the outlook mounted amid worries over the fate of President Donald Trump's tax-cut agenda, Reuters reported. The National Federation of Independent Business said yesterday its Small Business Optimism Index increased three points to 98.8 last month, rising for the first time since December. READ MORE | | | | |
