 | | Featured Premium Content | | | | | Debtwire: Marelli Automotive Lighting USA Files for Chapter 11 with $4.9 Billion Debt, Backed by $1.1 Billion DIP
Global automotive parts supplier Marelli Automotive Lighting USA filed for chapter 11 yesterday with approximately $4.9 billion in funded debt, aiming to carry out a prearranged restructuring supported by 80% of its senior lenders and backed by $1.1 billion in new financing, according to a Debtwire analysis. 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 | | | | | At Home, Facing Debt and Tariffs, Plans to Close Some Stores in Bankruptcy
At Home Group is preparing to file for bankruptcy within days and plans to close a slice of its store locations to weather trade tensions and mounting debt, WSJ Pro Bankruptcy reported. The Texas-based home-goods retailer could file for court protection as early as Sunday. At Home is planning to close roughly 20 stores initially as part of the bankruptcy case. READ MORE | | Regional Carrier Silver Airways Says It’s Shutting Down Operations
Regional carrier Silver Airways announced yesterday that it is shutting down operations after a failed attempt at restructuring through bankruptcy, leaving some passengers stranded at airports in Florida, the Bahamas and the Caribbean, the Associated Press reported. Silver said that it had sold its assets through the chapter 11 bankruptcy proceeding to a holding company that “unfortunately has determined to not continue Silver’s flight operations” that served five Florida cities and 11 island destinations. READ MORE | | Crypto Industry-Backed Stablecoin Bill Advances in the Senate
The Senate advanced bipartisan stablecoin legislation supported by the crypto industry and President Donald Trump, with final passage of the measure likely next week, Bloomberg News reported. Senate leaders are expected to bat away efforts to attach language pushed by retailers and their allies in the Senate to mandate competition to Visa Inc. and Mastercard Inc. in credit card processing, as well as a Democratic push to ban Trump from profiting off his crypto ventures. The 68-30 procedural vote on Wednesday clears a key procedural obstacle. It came a day after the House Financial Services and Agriculture committees advanced broader crypto legislation, with Republicans beating back amendments targeting Trump’s crypto profits. READ MORE
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June 18-20 | Chicago, Ill. | | ABI Northeast Bankruptcy Conference & Consumer ForumOmni Mt. Washington Resort
July 14-16 | Bretton Woods, NH. | | | | | | |  | | Daily Roundup | | | | | Muted May Inflation Defies Tariff Fears
Inflation was tame in May, defying fears that the impact of President Trump’s tariffs would start to show a rise in prices, the Wall Street Journal reported. Consumer prices rose 0.1% in May over the previous month, less than economists anticipated. Year-over-year inflation was 2.4%, in line with expectations and near a four-year low recorded in April. READ MORE | | Pickleball Company Owner Waives Discharge of More Than $47 Million in Unsecured Debt After USTP Investigation
A pickleball entrepreneur who was forced into bankruptcy by investors he lured with promises of generous returns recently agreed to waive his bankruptcy discharge after an investigation by the Justice Department’s U.S. Trustee Program (USTP), preventing the discharge of more than $47 million in unsecured debt, according to a DOJ press release. READ MORE | | Regulators Seek Rollback of 1-Minute Bond Trade Reporting
U.S. financial regulators want to roll back measures introduced during the Biden administration that slashed some fixed-income trade reporting to just one minute, calling for the abandonment of a planned shift away from the 15-minute status quo for disclosing many bond transactions, Bloomberg News reported. The Financial Industry Regulatory Authority and the Municipal Securities Rulemaking Board proposed going back to the longer time frame to address industry concerns that were raised after the 1-minute deadline was approved in 2024. READ MORE | | | | |
