 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: Sunnova Creditors Form Unified Front Ahead of Debt Talks
Sunnova Energy International’s creditors have consolidated into a single group ahead of debt negotiations with the company in coming days, WSJ Pro Bankruptcy reported. The company, one of the largest rooftop solar panel installers and financiers in the U.S., is grappling with declining solar panel demand, which has squeezed its revenue and strained its liquidity. Two groups of creditors were formed within days after Sunnova earlier this month warned about its ability to fund its operations. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes?With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | Purdue Pharma Files New Bankruptcy Plan for $7.4 Billion Opioid Settlement
Bankrupt drugmaker Purdue Pharma filed a new bankruptcy plan on Tuesday, a major step towards finalizing a proposed opioid settlement of at least $7.4 billion after a setback in the U.S. Supreme Court last year, Reuters reported. The payments are aimed at resolving thousands of lawsuits alleging that the company's pain medication OxyContin caused a widespread opioid addiction crisis in the United States. The headline figure had been previously flagged by Purdue and its owners, members of the wealthy Sackler family. READ MORE | | ‘Matrix’ Co-Producer Village Roadshow 'Open to All Bids' After Bankruptcy
U.S. film producer Village Roadshow Entertainment Group is “open to all bids” for a film library that includes rights to well-known movies like The Matrix, Ocean’s Eleven, and The Joker, a company attorney said on Tuesday at a court hearing a day after filing for bankruptcy, Reuters reported. Los Angeles-based Village Roadshow filed for chapter 11 with a tentative agreement to sell its film library to investment firm Content Partners for $365 million. But the agreement is subject to overbids, and Village Roadshow hopes to hold an auction in May before seeking court approval of a sale, the company's attorney Justin Bernbrock told U.S. Bankruptcy Judge Thomas Horan in Delaware, who is overseeing the case. READ MORE | | Fake WeWork Takeover Bid by Strip Mall Investor Gets Him Five Years in Prison
A former strip mall mogul was sentenced to five years in prison for orchestrating a fake WeWork Inc. takeover bid to profit from stock options he bought just before the company’s November 2023 bankruptcy filing, Bloomberg News reported. Jonathan Larmore, sentenced on Tuesday in federal court in Manhattan, was convicted of fraud in October following a weeklong trial — though he bungled the scheme and never reaped a profit. READ MORE
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If you can’t beat them join them: That’s the strategy behind saving the Forever 21 name as the last remaining stores are shuttered and the brand pursues a model that is similar to its online competitors, Bloomberg News reported. Bankruptcy Judge Mary Walrath gave the company temporary permission on Tuesday to start going-out-of business sales at all of its 354 stores while managers try to find a last-second rescuer for part of the 41-year-old clothing chain. READ MORE | | Record Number of Americans Working More Than One Job
At least 5 percent of the American workforce has a second job, according to the Bureau of Labor Statistics (BLS), The Hill reported. In a release earlier this month, the BLS reported that a record high of approximately 8.9 million Americans stated they work multiple jobs. That is the highest rate since the Great Recession in April 2009. A March report from the Federal Bank of St. Louis revealed that 50.2 percent of multiple job holders in 2024 had a college degree, which is a 9.1 percent increase from 2019. READ MORE | | U.S. Manufacturing Output Accelerates in February
U.S. manufacturing production increased more than expected in February, boosted by a surge in motor vehicle output, but tariffs are casting a shadow on the nascent factory recovery, Reuters reported. Factory output jumped 0.9% last month after an upwardly revised 0.1% gain in January, the Federal Reserve said on Tuesday. Production at factories increased 0.7% on a year-on-year basis in February. Manufacturing, which accounts for 10.3% of the economy, has been recovering as the U.S. central bank started cutting interest rates in September. READ MORE | | Acting SEC Head Remakes Agency Before Trump Pick Confirmed
President Donald Trump’s nominee to lead the agency that regulates Wall Street has yet to be confirmed, but the sweeping changes to the watchdog from his temporary stand-in are starting to pile up, Bloomberg News reported. Within a day of becoming interim chief of the Securities and Exchange Commission in January, Mark Uyeda made his first public move: starting a revamp to the regulator’s approach to cryptocurrencies, once a major source of agency battles. It was the first of many changes at the regulator under the acting chair, and a sign of things to come. READ MORE | | Chief Justice Roberts Rebukes Trump's Attack on Judge
U.S. Chief Justice John Roberts rebuked President Donald Trump on Tuesday for urging the impeachment of a federal judge, laying bare tensions between the country's chief executive and the judiciary as Trump's sweeping assertions of power run into judicial roadblocks, Reuters reported. In a rare statement, Roberts wrote: "For more than two centuries, it has been established that impeachment is not an appropriate response to disagreement concerning a judicial decision." He wrote the correct response was to file an appeal. Roberts' statement followed Trump's call in a social media post on Tuesday for the impeachment of a federal judge. Washington, D.C.-based U.S. District Judge James Boasberg ordered the administration on Saturday to halt the removal of alleged Venezuelan gang members, which Trump has argued is authorized by an 18th-century law historically used only in wartime. READ MORE | | | | |
